The UK Foreign Secretary Ed Miliband has introduced a new package of sanctions against Russia, targeting its military, oil and gas revenues, and its shadow fleet. This marks Mr Miliband's first major sanctions package since taking office.
The measures aim to constrain networks and revenue streams supporting Russia's war effort in Ukraine. Among the 19 targets are six Russian banks, six shadow fleet tankers, and four Russian companies importing rare metals tantalum and niobium, which are used in military equipment.
Foreign Secretary Ed Miliband stated that the sanctions demonstrate the UK's commitment to supporting Ukraine and pressuring those aiding Russia's actions. Chancellor John Healey MP added that the new sanctions are intended to cut off funds for the war and target the shadow fleet.
The UK government has now sanctioned over 3,400 individuals, entities, and ships under its Russia sanctions regime, with over 500 sanctions imposed this year alone.