1h 2min, oct 16, 2025 y - Russian Oil Market Sanctions

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Britain is targeting Russia's largest oil companies and the country's "shadow fleet" of oil tankers in a bid to cut off Vladimir Putin's ability to fund the war in Ukraine.

The UK government is also pursuing a major Indian oil refinery and four Chinese oil terminals in a package of 90 new sanctions.

Chancellor Rachel Reeves said the move was expected to have a significant impact on Russia's economy and its ability to sustain military operations in Ukraine.

The Russian embassy in London said targeting major Russian energy companies would disrupt global fuel supplies and drive up costs worldwide, including for families and businesses in the UK.

"We are sending a clear signal: Russian oil is off the market," said Reeves ahead of a meeting in Washington DC with global counterparts to discuss Russian sanctions.

Reeves said the government was "significantly stepping up the pressure on Russia and Vladimir Putin's war effort."

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