New US and UK Sanctions Target Russia's Energy Sector
On January 10, 2025, the United States and the United Kingdom imposed significant new sanctions on Russia's energy sector, targeting major players like Gazprom Neft. The sanctions encompass 180 Russian vessels and oil companies, marking a critical move to diminish Russian energy revenues as part of a G7 commitment. Additionally, nearly 400 individuals and entities, including oil traders and their subsidiaries, have been sanctioned.
US President Joe Biden highlighted the expected profound effects of these sanctions on Russia's economy and military operations, despite concerns over potential increases in gas prices domestically. In response, Russia condemned the sanctions as "toxic," while Ukrainian President Volodymyr Zelensky welcomed the measures as a major setback for Russia's military capabilities.
The implementation of these sanctions reflects ongoing international efforts to exert pressure on Russia amid its actions in Ukraine.
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