The UK government has imposed new sanctions targeting the Russian oil industry and military supply chain.
The oil companies PJSC Tatneft, PJSC Russneft, LCC NNK-Oil and LLC Rusneftegaz Group are now sanctioned. According to the British Foreign, Commonwealth & Development Office, these companies “have been responsible for an increasing share of Russia’s oil exports, now approaching 10% over the last six months.”
Major Russian oil companies Lukoil and Rosneft were already sanctioned by the UK on Oct. 15.
Murtaza Ali Lakhani, a Pakistani billionaire holding a Canadian passport, and his company Mercantile & Maritime Group, have also been added to the sanction list for activities in the oil sector.
The Mercantile & Maritime Group made a donation of £500,000 ($669,000) to the British Conservative Party in 2019. The Conservative Party itself has a strongly pro-Ukrainian stance.
Minister of State for Europe, North America and Overseas Territories Stephen Doughty said the UK aims to undermine Russia’s economy and pressure Kremlin leader Vladimir Putin into negotiations.
“With Russian oil revenues in free fall, now is the time to tighten the squeeze on Putin’s brutal war machine and bring Russia to the negotiation table,” Doughty was quoted as saying.
“Our message is clear – the UK will not rest until Putin ends the bloodshed and there is a just and lasting peace in Ukraine,” he added.
A total of 24 entities and individuals were sanctioned by the UK on Dec. 18.
Six companies and two individuals were sanctioned for their involvement in Russia’s military supply chain. Four of the companies are based in Uzbekistan, along with Uzbek businessman Rustam Muminov.
Muminov controls the Fargona Chemical Plant, which has supplied cotton pulp for the manufacture of weapons for the Russian military.
Muminov had previously been sanctioned by the EU in October, as part of its 19th sanctions package. The list also includes two companies sanctioned for their involvement in financial circumvention measures.