US, UK impose sweeping sanctions on Russia’s oil industry – DW – 01/11/2025

The United States and the United Kingdom imposed further sanctions on Russia’s energy sector on Friday in an effort to prevent funding for Moscow’s full-scale invasion of Ukraine.

The US Treasury Department said it was designating Russia’s two largest oil companies, Gazprom Neft and Surgutneftegas, fulfilling “the G7 commitment to reduce Russian revenues from energy”.

The sanctions also apply to 183 ships that the US government believes are part of Moscow’s “shadow fleet” of ships allegedly used to avoid existing sanctions on the transport of Russian oil. goes.

Additionally, the measures target specific projects and infrastructure for liquefied natural gas, as well as subcontractors, service providers, traders and marine insurers, the Treasury Department said.

Britain coordinates sanctions with US

At the same time, the UK government imposed its own sanctions on Gazprom Neft and Surgutneftegas, saying their profits were “lining (Russian President Vladimir) Putin’s war chest and facilitating war” in Ukraine.

British Foreign Secretary David Lammy said, “Taking on Russian oil companies would empty Russia’s coffers and every ruble taken out of Putin’s hands helps save Ukrainian lives.”

The Foreign Office said the two companies produce more than 1 million barrels of oil a day, worth $23 billion (€22.4 billion) a year.

Britain has already sanctioned nearly 100 ships in Russia’s oil-carrying “shadow fleet” as Ukraine’s Western allies seek to increase economic pressure on Moscow ahead of talks to end the war.

Oil smuggling via Russia’s secret fleet raises concerns

Please enable JavaScript to view this video, and consider upgrading to a web browser Supports HTML5 video

It is up to Trump whether to maintain the ban or not

White House national security spokesman John Kirby said the US administration chose this time to take tough action on oil just 10 days before President Joe Biden leaves office as concerns about global oil markets have subsided.

Biden told reporters he expected the move could cost drivers “three, four cents a gallon” at the pump.

Biden administration officials said it will ultimately be up to President-elect Donald Trump’s administration to maintain or eliminate the new restrictions.

Biden and Zelensky discuss US support, sanctions

Ukrainian President Volodymyr Zelensky welcomed new US sanctions against Russia’s oil sector and its so-called shadow tanker fleet.

“These measures deal a significant blow to the financial foundation of Russia’s war machine by disrupting its entire supply chain,” he wrote on X.

According to the White House, Biden spoke with Zelensky as soon as the sanctions were announced, discussing his administration’s continued support for efforts to rein in Russia and underscoring the need to continue that support.

In a social media post, Zelensky thanked Biden for Washington’s support in Ukraine’s nearly three-year war with Russia and “the important role played by the United States in unifying the international community.”

Zelensky later also expressed gratitude for British sanctions against Russian oil companies, saying on the issue that London “delivers another significant disruption in Putin’s ability to finance aggression.”

Bolton: ‘Putin knows how to play with Trump’

Please enable JavaScript to view this video, and consider upgrading to a web browser Supports HTML5 video

DH/WMR (AP, AFP, dpa, Reuters)

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *