Huge blow for Putin's war machine as UK issues sweeping ban

 Britain has launched what officials say are its most powerful sanctions yet against Russia, striking at the heart of Vladimir Putin's oil-fuelled war economy. The Foreign Office and Treasury unveiled 90 new sanctions aimed at cutting Kremlin oil and gas revenues, in a joint announcement by Foreign Secretary Yvette Cooper in Parliament and Chancellor Rachel Reeves in Washington.

The measures target Russia's largest oil companies - Rosneft and Lukoil - which together export more than three million barrels of oil a day, as well as global partners and shipping networks accused of enabling Moscow to evade restrictions. Officials said the move would "take Russian oil off the market", choking off funding for Putin's war in Ukraine by hitting both production and transport. The package also bans UK imports of oil products refined in third countries from Russian-origin crude and adds dozens of entities across Asia and the Middle East to the UK's blacklist. It came as Putin opened Russian Energy Week in Moscow, an event designed to promote his country's energy sector abroad - now overshadowed by Britain's crackdown. Ms Cooper told MPs: "At this critical moment for Ukraine, Europe is stepping up.

"Together, the UK and our allies are piling the pressure on Putin - going after his oil, gas and shadow fleet - and we will not relent until he abandons his failed war of conquest and gets serious about peace.

"Even with his war economy creaking, his people suffering, and his army enduring unthinkable losses - still he sends drones and missiles after innocent civilians.

"Ukraine's security is important for the security and stability of the whole of Europe and for the UK. Today's action is another step towards a just and lasting peace in Ukraine, and towards a more secure United Kingdom."

Chancellor Reeves, speaking in Washington for IMF meetings with G7 finance ministers, said: "We are sending a clear signal: Russian oil is off the market.

"As Putin's aggression intensifies, we are stepping up our response. The UK will continue to strip away the funding that fuels his war machine. We will hold to account all those enabling his illegal invasion of Ukraine."

The sanctions strike directly at Rosneft and Lukoil - which together produce almost half of all Russian oil -and at the network of companies and vessels used to ship and refine their crude.

Four Chinese oil terminals, 44 tankers in the so-called "shadow fleet" and India's Nayara Energy, which imported 100 million barrels of Russian crude worth over £4 billion last year, are all included.

Eight specialised liquefied natural gas (LNG) tankers and China's Beihai LNG terminal have also been sanctioned, undermining the Kremlin's attempt to expand LNG exports through the Arctic LNG-2 project, itself already under UK sanction.

To stifle Russia's military supply chain, new designations hit companies supplying critical electronics and dual-use components for drones and missiles across Turkey, China, India, Singapore and Thailand.

Among those blacklisted are Absolut Trade LLC, S-Mikron Elektronik, NPK Progress, LMM Electronics FZE, INOI International, and China Thai Corporation Group.

Five Russian banks and financial entities, including BBR Bank, Transstroibank, Solid Bank, Primsotsbank and the National Card Payment System (NSPK), have also been added to the sanctions list.

The Foreign Office said the new measures demonstrated Britain's determination "to cut off Putin's revenue streams and target his global enablers". Officials said more than £28.7 billion in Russian assets have now been frozen under UK jurisdiction since the invasion began in February 2022, according to the latest Office of Financial Sanctions Implementation (OFSI) annual review.

The UK has already sanctioned Gazprom Neft and Surgutneftegas, Russia's third- and fourth-largest oil firms, in a previous round announced in January.

British officials said the timing of today's action was deliberate, coinciding with Putin's high-profile energy forum in Moscow to demonstrate that "Russia's era of energy leverage is ending".

The crackdown comes as the UK continues to expand its own defence and industrial support for Ukraine. More than 85,000 British-made drones have been delivered to Kyiv in the past six months, supported by a £600 million investment in new production lines.

The Government said the latest measures advance its "Plan for Change" - strengthening the UK's national and energy security while helping to secure a just peace in Ukraine.