Britain has imposed new sanctions targeting additional Russian oil companies and Canadian-Pakistani billionaire Murtaza Lakhani as part of its strategy to increase pressure on Moscow regarding the Ukraine conflict. The sanctions affect 24 individuals and entities, including major Russian oil firms like Tatneft, Russneft, NNK-Oil, and Rusneftegaz, which are among the largest remaining unsanctioned companies in the sector.
These measures aim to hinder Russia’s ability to trade oil globally, following earlier sanctions on its two largest oil companies, Lukoil and Rosneft, by both Britain and the U.S. Concurrently, the EU has also sanctioned 41 vessels in Russia’s shadow fleet, which attempts to bypass Western trading restrictions.
Lakhani, who was previously sanctioned by the EU, has been identified as a key player in the Russian oil trade since 2022. He began his career at Glencore and now leads Mercantile & Maritime, a mid-sized trading firm facing UK sanctions with offices in Singapore and London.
Additionally, Britain is targeting Central Asian supply chains for cotton pulp, crucial for ammunition and missile fuel, which Russia struggles to produce in large quantities.
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