The United Kingdom has announced a sanctions package cutting off critical oil revenues for Russia as part of its efforts to crack down its war efforts against Ukraine (British government, 24/02/2026).
The package consists of 300 new sanctions, including oil exports, and key suppliers of military equipment. In particular, the sanctions target Transneft, the operator responsible for the transportation of over 80% of Russian oil exports. It also aims to impact Russia’s illicit oil trade by sanctioning 175 companies in the ‘2Rivers’ oil network (a major trader of Russian crude oil and one of the largest shadow fleet operators globally), and 48 oil tankers transporting Russian oil to keep it off the market.
It also targets 3 civil nuclear energy companies and 2 individuals involved in contracts for new Russian nuclear installations overseas, 6 LNG assets including ships, traders and Russia’s Portovaya and Vysotsk terminals responsible for exporting Russian LNG.
Additionally, the United Kingdom has announced it would also send over GBP25m (EUR28.6m) for repairs on Ukrainian energy infrastructure damaged by the Russian attacks. The sanction package is the largest since beginning of the Ukraine’s invasion that started in 2022.
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