Home » UK Tightens The Screws On Russia’s Oil Lifeline, Sanctions Indian Refiner Nayara Energy

UK Tightens The Screws On Russia’s Oil Lifeline, Sanctions Indian Refiner Nayara Energy

written by Prakash Kl Source

International

oi-Prakash KL

Time

In a sweeping escalation of its economic offensive against Russia, the United Kingdom has rolled out a new wave of sanctions targeting 90 entities across the globe-including India's Nayara Energy-in a bid to choke off the Kremlin's oil-fueled war chest.

The crackdown, unveiled by the UK's Foreign Office in coordination with the Treasury, zeroes in on the arteries of Russia's energy trade. From shadowy oil tankers to refineries and terminals, the sanctions aim to sever the financial lifelines that have helped sustain President Vladimir Putin's military campaign in Ukraine.

The United Kingdom imposed new sanctions on 90 entities, including India's Nayara Energy, to restrict Russia's oil revenue, targeting companies and individuals involved in oil trade and military supply chains, while also freezing assets of Rosneft and Lukoil, and banning refined oil products from Russian crude from third countries.

UK Tightens The Screws On Russia s Oil Lifeline Sanctions Indian Refiner Nayara Energy

Among the most high-profile names on the list is Nayara Energy, a major Indian refiner partly owned by Russian oil giant Rosneft. British officials allege the company imported over 100 million barrels of Russian crude in 2024-transactions worth more than $5 billion. London argues such trade undermines global efforts to isolate Moscow's energy sector.

The sanctions also strike at the heart of Russia's oil empire: energy behemoths Rosneft and Lukoil. Together, these firms export over 3 million barrels of crude daily, with Rosneft alone responsible for nearly half of Russia's total output. The UK has now frozen their assets, barred their executives from holding directorships, and imposed transport restrictions.

"This is about cutting off the cash that fuels Putin's war machine," said Foreign Secretary Yvette Cooper, addressing Parliament. "We're going after his oil, his gas, and the shadow fleet that moves it. And we won't stop until this war of conquest ends."

The timing of the announcement was no accident. It landed during Russian Energy Week in Moscow-an event where Putin is expected to court non-Western buyers for his country's oil and gas. The UK's move is designed to undercut that pitch by tightening the noose on Russia's access to global markets.

In a further blow, Britain also declared a ban on oil products refined in third countries if they originate from Russian crude-a move aimed at closing loopholes in existing sanctions.

Nayara Energy, which runs India's second-largest private refinery in Gujarat, pushed back strongly. In a statement, the company insisted it complies fully with Indian law and dismissed the UK and EU sanctions as "baseless" and a violation of India's sovereignty.

The sanctions sweep extends beyond oil. Entities in Thailand, Singapore, Turkiye, and China were also blacklisted for allegedly supplying Russia with electronic components used in drones and missiles-highlighting the UK's broader strategy to disrupt Moscow's military supply chain.

Meanwhile, US President Donald Trump on Wednesday claimed that Indian Prime Minister Narendra Modi has promised to cease purchasing oil from Russia. This assurance comes after Trump imposed tariffs on such purchases.

"He's assured me there will be no oil purchased from Russia," Trump stated, acknowledging the gradual nature of this process but expressing confidence in its swift completion.

What’s your Reaction?
0
0
0
0
0
0
0
written by Prakash Kl Source

Leave a Comment

Save my name, email, and website in this browser for the next time I comment.


To prove you're a person (not a spam script), type the security word shown in the picture.
You can enter the Tamil word or English word but not both
Anti-Spam Image