LONDON (dpa-AFX) - The United Kingdom has announced wide-ranging sanctions on Russia as its forces intensified drone attacks against Ukraine.
The UK is ramping up pressure with 100 new sanctions targeting Russian military, energy, financial sectors and those conducting Putin's information war against Ukraine.
UK and partners are also working to tighten the oil price cap, further restricting critical oil revenues for Russian war machine.
The latest sanctions target entities supporting Russia's military, energy exports and information war, as well as financial institutions helping to fund Russia's invasion of Ukraine.
On Saturday, Russia fired 273 drones at Ukrainian cities, the biggest drone onslaught of the war. A strike on a bus in Sumy killed 9 civilians. Russian forces have repeatedly fired Iskander missiles into crowded civilian areas.
Russian President Vladimir Putin has so far not put in place the full, unconditional ceasefire that President-Trump has called for, and which President Zelenskyy endorsed more than 2 months ago.
UK imposed sanctions on the supply chains of deadly Russian weapons systems, including Iskander missiles. This will protect Ukrainian lives, and our collective security by disrupting Russia's military machine.
Tuesday's sanctions also target 14 more members of the Social Design Agency, which carries out Kremlin-funded information operations that are designed to undermine sovereignty, democracy, and the rule of law in Ukraine.
46 financial institutions that help Russian attempts to evade sanctions, as well as the St Petersburg Currency Exchange, and the Russian Deposit Insurance Agency which insures Russian banks also have been subjected to sanctions. These new sanctions will further isolate the Russian economy and disrupt Russia's revenue streams.
The UK also imposed sanctions on 18 more ships in the 'shadow fleet' carrying Russians oil, along with the fleet's enablers.
The UK's latest sanctions come as the EU prepares to announce its 17th package of sanctions against Russia, in a co-ordinated effort to secure a just and lasting peace in Ukraine.
Western sanctions are having a severe effect on Russia's economy. Russian GDP shrank in the first quarter of the year and the non-defence economy has been in recession for some time. Security and defence spending is now more than 40 percent of the federal budget. The government had to raise taxes and slash social spending in order to continue the war.
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