TITLE: United Kingdom Announces Largest Sanctions Package Against Russia Since 2022 Invasion
BODY:
On February 24, 2026, the United Kingdom Foreign, Commonwealth & Development Office announced nearly 300 new sanctions targeting Russia, marking the largest sanctions package since the early months of the 2022 full-scale invasion of Ukraine. The measures aim to disrupt critical oil revenues and degrade the Kremlin's ability to sustain its war effort.
The sanctions package targets PJSC Transneft, one of the world's largest oil pipeline companies responsible for transporting over 80 percent of Russian oil exports. The measures also sanction 175 companies within the '2Rivers' oil network, a major shadow fleet operator and trader of Russian crude oil, and 48 oil tankers involved in transporting sanctioned Russian oil. Additional targets include 49 entities and individuals supplying components and technology for Russian drones and weapons; three civil nuclear energy companies and two individuals seeking contracts for new Russian nuclear installations; six liquified natural gas industry targets including ships, traders, and Russian terminals; and nine Russian banks processing cross-border payments. The UK has now sanctioned over 3,000 individuals, businesses, and ships under its Russia sanctions regime. International sanctions have deprived Russia of over $450 billion since the invasion began. Russian oil revenues have fallen to their lowest levels since 2020, forcing the Kremlin to increase taxes on ordinary Russians, including value-added tax and corporation tax.
Concurrent with the sanctions announcement, Foreign Secretary Yvette Cooper announced £30 million in additional UK support for Ukraine, comprising over £25 million for energy infrastructure repairs and £5 million for justice and accountability initiatives addressing alleged Russian war crimes. This brings total UK support to £21.8 billion since the invasion began.
REFERENCES:
UK Foreign, Commonwealth & Development Office. "UK announces biggest sanctions package against Russia four years on from full-scale invasion of Ukraine." February 24, 2026. https://www.gov.uk/government/news/uk-announces-biggest-sanctions-package-against-russia-four-years-on-from-full-scale-invasion-of-ukraine