It is noted that these energy companies produce over 1 million barrels of oil per day, amounting to approximately $23 billion annually at current prices, which, according to British officials, exceeds Jamaica's gross domestic product.
The imposed sanctions aim to restrict the revenue from energy sales of the aggressor country, which constituted about a quarter of the entire budget of the Russian Federation in 2023.
"Oil profits are the lifeblood of the military economy of [illegitimate Russian president Vladimir] Putin. We will not stand by and allow oil revenues to endanger the lives of Ukrainians; we will not permit Russia to continue filling its coffers while threatening our collective security," stated UK Foreign Secretary David Lammy.
Ukrainian President Volodymyr Zelensky expressed his gratitude to Britain for its support and "decisive actions against the Russian military machine" in a Telegram post. He remarked that the "synchronized actions with the USA" demonstrate the strength of international unity.
"By imposing sanctions on the two largest Russian oil companies, the UK has once again significantly limited Putin's ability to finance aggression. We appreciate the ongoing efforts of the UK to counter the shadow operations of the Russian fleet, which remain a key element of oil trading," the president wrote.
Prior to this, on January 10, the U.S. Department of the Treasury announced new sanctions concerning the energy sector of Russia. This involved over 400 entities, including two major Russian oil producers – "Gazprom Neft" and "Surgutneftegas," as well as their subsidiaries. These sanctions are among the most stringent against the Russian oil industry, as noted by Reuters.