Britain announced sanctions against Russian oil companies

Britain announced sanctions against Russian oil companies

The British government, following the US, announced the imposition of sanctions against the Russian companies "Gazprom Neft" and PJSC "Surgutneftegas".

This is reported in a statement by the British government.

"The United Kingdom and the United States have imposed direct sanctions for the first time against "Gazprom Neft" and PJSC Surgutneftegas," two Russian oil giants. These energy companies jointly produce over 1 million barrels of oil per day, with a total value of approximately 23 billion dollars per year at current prices, which exceeds the GDP of Jamaica," the statement said.

It is noted that these companies help finance Russia’s war against Ukraine.

The UK expects that the imposition of sanctions against these companies will significantly limit Russia’s ability to earn revenues from energy sales.

"Revenues from oil sales are the lifeblood of Putin’s war economy. We will not stand by and let oil profits threaten Ukrainian lives – just as we will not allow Russia to continue to fill its treasury while threatening our collective security," said UK Foreign Secretary David Lammy.