FCDO announces nearly 300 new Russia sanctions targeting oil revenues, shadow fleet and financial sector
The Foreign, Commonwealth & Development Office (FCDO) has announced what it describes as the largest UK sanctions package against Russia since the early months of the full-scale invasion of Ukraine, marking four years since 24 February 2022. It has introduced nearly 300 new sanctions targeting Russian energy revenues, military supply chains, financial institutions and other sectors identified as supporting Russia’s military operations. The measures include sanctions on PJSC Transneft, responsible for transporting more than 80% of Russian oil exports, as well as 175 companies linked to the ‘2Rivers’ oil network and 48 oil tankers associated with the transport of Russian crude. The package also designates 49 entities and individuals connected to military supply chains, three civil nuclear energy companies and two individuals involved in overseas nuclear projects, six targets in the liquefied natural gas sector, and nine Russian banks that process cross-border payments. FCDO states that the UK has now sanctioned over 3,000 individuals, businesses and ships under its Russia regime.