The UK government has unveiled 24 new sanctions aimed at Russia’s energy industry and military supply chains, intensifying pressure on Moscow as its war economy shows signs

of severe strain.

Announced by the Foreign, Commonwealth & Development Office and Sanctions Minister Stephen Doughty, the measures target four major Russian oil firms and a network of traders accused of funnelling vital military materials to Russia’s front line.

Officials say today’s sanctions strike at the heart of President Vladimir Putin’s remaining oil revenue streams. The newly listed companies—PJSC Tatneft, PJSC Russneft, LCC NNK-Oil, and LLC Rusneftegaz Group—account for more than $20 billion in revenue and have grown their share of Russian oil exports to nearly 10% over the past six months.

According to the UK, these firms have helped bankroll Russia’s invasion of Ukraine, contributing to the Kremlin’s war chest at a time when previous sanctions are already dragging revenues to historic lows. London claims that Russian oil income has tumbled by more than a quarter in the past year, hitting its lowest point since the full-scale invasion began.

The UK says the new action is designed not only to curb Moscow’s oil earnings but to dismantle networks designed to evade sanctions. Authorities are targeting trade routes through Central Asia that have supplied Russia with cotton pulp, a key ingredient in ammunition, explosives, and missile fuel—materials Russia struggles to source domestically.

The crackdown also singles out billionaire trader Murtaza Ali Lakhani and companies linked to his alleged oil network, which UK officials say has grown into one of Russia’s dominant export channels since 2022. Photo by UK Government, Wikimedia commons.

Sanctions Minister, Stephen Doughty said: 

“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. 

Our message is clear – the UK will not rest until Putin ends the bloodshed and there is a just and lasting peace in Ukraine”.

The government stressed that its commitment to Ukraine remains unwavering, arguing that sustained economic pressure is vital to securing a “just and lasting” peace.