Britain's Biggest Sanctions Push: Cracking Down on Russia's Oil Networks

Britain implements its largest sanctions package yet, targeting Transneft and other key Russian entities on the fourth anniversary of Russia's Ukraine invasion. Despite Western sanctions, Russian oil exports hold strong with China, India, and Turkey as key buyers. The West aims to cut these streams, impacting Russian revenues.

In a sweeping move to mark the fourth anniversary of Russia's invasion of Ukraine, Britain has sanctioned Transneft, the major Russian oil pipeline operator. The UK government introduced nearly 300 measures, making it the largest sanctions package against Russia since the war began.

The sanctions, part of a broader strategy to reduce Moscow's energy revenues, also targeted 48 oil tankers in Russia's 'shadow fleet'. Despite extensive Western sanctions, Russian oil continues to flow to markets in China, India, and Turkey.

Significant impacts are anticipated as the West, including the U.S. and the EU, intensifies efforts to disrupt Russian oil exports. Analysts suggest this might finally lead to a decline in Russia's crude exports, although data still shows a robust trade route.

(With inputs from agencies.)