The United Kingdom and Australia rolled out their largest sanctions packages against Russia yet on the four-year-anniversary of Russia’s full-scale invasion of Ukraine on Tuesday, Feb. 24, while also pledging significant military, humanitarian, and reconstruction assistance.
Australia’s action
Australia announced targeted sanctions on 180 individuals, entities, and “shadow fleet” vessels linked to Russia, marking its largest package since February 2022.
The sanctions, designed to squeeze Moscow’s revenue and limit its war capability, hit Russia’s finance, banking, defense, aeronautical, oil and gas, transportation, and science and technology sectors.
Also, for the first time, Australia targeted cryptocurrency entities that enable cross-border payments to bypass sanctions, further constraining Russia’s military operations.
Additionally, Australia lowered the Russian oil price cap from USD $47.60 to USD $44.10 per barrel to further depress Moscow’s revenues.
The Australian government has now imposed over 1,800 sanctions since the invasion began. Officials emphasized ongoing coordination with Ukraine and international partners through the Coalition of the Willing.
UK sanctions and support
The UK’s latest sanctions package targets Russia’s oil pipeline giant PJSC Transneft and 175 companies in the “2Rivers” oil network, one of the largest shadow fleet operators globally and a major trader of Russian crude oil, including 48 oil tankers, further cutting Moscow’s access to sanctioned oil markets.
Measures also hit nine Russian banks, six LNG industry targets, five entities involved in nuclear projects overseas, and 49 entities and individuals supporting Russia’s war machine, including suppliers of components and technology for drones and other weapons targeting Ukrainian civilians.
Foreign Secretary Yvette Cooper, visiting Kyiv on Tuesday, said the sanctions are designed to weaken Putin’s “war economy” and choke revenue streams funding attacks on Ukrainian civilians.
New military and humanitarian support
Cooper also announced over £30 million ($36.6 million) to strengthen Ukraine’s resilience after a harsh winter of Russian strikes, including £25 million ($30.5 million) for energy infrastructure repair and £5 million ($6.1 million) for justice and accountability for victims of alleged war crimes.
The UK additionally unveiled a package of military and humanitarian assistance:
- £20 million ($24.4 million) for emergency energy support to repair and future-proof Ukraine’s power grid.
- £5.7 million ($6.95 million) in aid for displaced and frontline communities, supporting 4.1 million people through UN channels.
- Medical mentoring from UK military surgeons, nurses, and physiotherapists for Ukrainian clinicians.
- Helicopter instructor training to build Ukraine’s next generation of military pilots.
This follows prior UK commitments, including £500 million ($610 million) in air defense systems and 1,000 Lightweight Multirole Missiles to protect against Russia’s ongoing drone attacks.
Defense Secretary John Healey said the UK remains “determined to stand strong with Ukraine” and stressed the importance of a coordinated Western response as the war enters its fifth year.