UK and US sanction two Russian oil firms

The UK has announced sanctions against two Russian oil firms as the Foreign Secretary pledged to “hit Putin where it hurts” amid the continuing war in Ukraine.

Britain and the US are sanctioning Gazprom Neft and PJSC Surgutneftegas, which, according to the Foreign, Commonwealth and Development Office (FCDO), between them produce more than one million barrels of oil per day.

The latest sanctions come after Prime Minister Sir Keir Starmer discussed the conflict with French President Emmanuel Macron over dinner.

In a post on X on Friday afternoon, Foreign Secretary David Lammy said: “Today’s sanctions hit Putin where it hurts – slashing the oil revenues that fund his illegal war.

“Starving the Kremlin’s war chest remains my personal mission and the time to act is now. The UK and our allies will not back down in our support for Ukraine.”

In a separate statement released by the FCDO, Mr Lammy had said: “We will not stand by and let oil profits endanger the lives of Ukrainians – nor will we let Russia keep filling its coffers as it continues to threaten our collective security.”

The conflict – approaching its third anniversary – was among the topics discussed when Sir Keir and Mr Macron met at Chequers on Thursday evening.

Following the Chequers meeting, a Downing Street spokesperson said the two men discussed the UK’s “reset” with the EU, support for Ukraine and “the need for unity in uncertain times”.