The UK government has imposed its most extensive sanctions package to date, targeting nearly 300 entities including oil pipeline operator Transneft, on the fourth anniversary of Russia's invasion of Ukraine. The measures aim to further diminish Moscow's energy revenues.
Transneft, one of the world's largest pipeline firms responsible for transporting over 80 per cent of Russia's crude exports, was specifically targeted. Foreign Minister Yvette Cooper said the UK had taken decisive action to disrupt the critical financing, military equipment and revenue streams that sustain Russia's aggression.
This latest round brings the total number of individuals, companies and ships sanctioned under Britain's Russia regime to more than 3,000. The package also included 48 oil tankers identified as part of efforts to curb Russia's so-called 'shadow fleet'.
Analysis by the Centre for Research on Energy and Clean Air indicated that Russia earned 193 billion euros ($227 billion) from oil, gas, coal and refined product exports in the 12 months to February 24, 2026, a 27 per cent drop from before the invasion. While gas exports have collapsed, oil export volumes have not been reduced by sanctions, but Russia has been forced to sell crude at lower prices, often redirecting supplies to China, India and Turkey using uninsured tankers.
Britain also targeted what it described as Russia's dark-web oil networks, sanctioning 175 companies in the Dubai-based 2Rivers group, calling it one of the world's largest shadow-fleet operators. 2Rivers did not immediately respond to a request for comment.
