Photo: dailymail.co.uk
UK Targets Rosneft and Lukoil with New Sanctions to Cut Oil Supply
The United Kingdom has imposed new economic sanctions on Russias largest energy firms, Rosneft and Lukoil, aiming to significantly reduce their oil supply and revenue.
- The United Kingdom announced 90 new economic sanctions targeting Rosneft and Lukoil, marking a significant escalation in efforts to undermine Russias oil revenue.
- Rosneft and Lukoil collectively export 3.1 million barrels of oil daily, with Rosneft alone contributing 6 percent of global oil production, making them critical to the petroleum industry.
- Chancellor Rachel Reeves stated the UK aims to take Russian oil off the market, emphasizing the sanctions role in disrupting the Kremlins financial resources.
Why It Matters
These sanctions reflect ongoing global efforts to limit Russias economic capabilities in response to geopolitical tensions. By targeting major players in the petroleum industry, the United Kingdom seeks to weaken Russias influence and deter its aggressive actions.