Britain imposes sanctions against Gazprom Neft and Surgutneftegaz

The British government noted that Gazprom Neft and Surgutneftegaz produce over 1 million barrels of oil every day, which is approximately $23 billion per year. This is more than the GDP of Jamaica.

The profits of these two companies replenish Putin's (Russian dictator Vladimir Putin — ed.) military coffers and contribute to the conduct of the war.

They added that every blow Britain strikes at Russia's oil revenues is another step towards a just and lasting peace in Ukraine.

Oil revenues are the lifeblood of Putin’s military economy. We will not stand by and allow oil revenues to endanger the lives of Ukrainians, just as we will not allow Russia to continue to fill its coffers while continuing to threaten our collective security.

David Lemmy

British Foreign Secretary

He added that fighting Russian oil companies would drain Russia's military budget and help save the lives of Ukrainians.

US sanctions against the Russian oil industry

Earlier, the US Treasury Department announced sanctions against the Russian companies Gazprom Neft and Surgutneftegaz.

Thus, all property of sanctioned persons located in the United States or under the control of persons from the United States is blocked.

US Treasury Secretary Janet Yellen emphasized that such restrictions are radical measures against the main source of income for the Russian Federation.