LONDON: The UK government on Wednesday announced 90 new sanctions targeting Russia’s oil giants and Indian petroleum company Nayara Energy Limited, which it said had imported billions of dollars’ worth of Russian crude in 2024.

The Foreign, Commonwealth and Development Office (FCDO) said the coordinated action with the UK Treasury will strike at the heart of Russian President Vladimir Putin’s war funding, targeting companies to cut off oil revenues reaching the Kremlin.

It claimed the move will help take Russian oil “off the market” and choke off energy revenues that flow into Putin’s “war chest” in the conflict with Ukraine.

“Today’s action demonstrates the government’s determination to cut off Putin’s revenue streams – targeting Russian companies and their global enablers,” the FCDO

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