Britain expanded sanctions against Russia's energy sector, blocking three oil companies
Kyiv • UNN
Great Britain imposed sanctions against three Russian oil companies: PJSC Tatneft, PJSC Russneft, and PJSC NNK. This expansion of sanctions pressure is aimed at reducing Russia's revenue from energy exports, covering almost 60% of Russian oil exports to key markets.
Great Britain has expanded sanctions pressure on Russia's energy sector, imposing restrictions against three oil companies: PJSC "Tatneft", PJSC "Rusneft" and PJSC "NNK". According to a statement by the Office of Financial Sanctions Implementation (OFSI), these enterprises came under fire for benefiting from the Russian government and supporting the Kremlin's war machine. This is reported by Bloomberg, writes UNN.
Details
The new restrictions are aimed at further reducing Moscow's revenues from energy exports. "Tatneft" is partially controlled by the government of Tatarstan, and the head of "NNK" is Eduard Khudainatov, the former head of "Rosneft".
Although these three companies account for less than 5% of Russian crude oil exports, their blacklisting, along with previously sanctioned giants – "Rosneft", "Lukoil" and "Gazprom Neft" – means that almost 60% of all Russian oil exports to key markets are now under British restrictions.
Economic consequences for the Kremlin
In addition to mining companies, Britain imposed sanctions against oil trader Murtaza Lakhani, synchronizing its actions with the latest package of the European Union. Western restrictions have already led to a significant increase in the discount on Russian Urals oil relative to Brent and created serious logistical obstacles. According to forecasts, this year's revenues to the Russian budget from oil and gas taxes will fall to the lowest level since the 2020 pandemic.
The introduction of these measures took place against the background of a lack of progress in reaching a peace agreement between Moscow and Kyiv, which forces allies to strengthen the economic isolation of the aggressor country.