UK sanctions 90 entities, including India's Nayara Energy, to cut Putin's oil trade

New Delhi,UPDATED: Oct 16, 2025 00:50 IST

The United Kingdom has imposed fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, as part of its latest crackdown on Russian revenue streams. The British government said it targeted firms and assets facilitating Moscow’s oil trade, in a coordinated effort to weaken President Vladimir Putin’s financial resources amid the ongoing war in Ukraine.

In a statement on Wednesday, the Foreign, Commonwealth and Development Office (FCDO) said the new measures -- taken jointly with the UK Treasury -- aim to "strike at the heart of Putin’s war funding."

Officials said the restrictions will help cut off oil revenues flowing into the Kremlin and limit Russia’s access to global energy markets.

"Today’s action demonstrates the government’s determination to cut off Putin’s revenue streams, targeting Russian companies and their global enablers," the FCDO said.

The sanctions list includes four oil terminals in China, 44 tankers from the so-called "shadow fleet" transporting Russian crude, and India’s Nayara Energy, which London claims imported 100 million barrels of Russian oil worth over USD 5 billion in 2024 alone.

UK TARGETS RUSSIAN ENERGY GIANTS AND GLOBAL ENABLERS

The new sanctions also strike directly at Russian energy majors Rosneft and Lukoil -- two of the largest oil companies in the world -- which together export an estimated 3.1 million barrels of crude daily. According to the UK government, Rosneft alone accounts for nearly half of Russia’s oil output and six per cent of global production.

"At this critical moment for Ukraine, Europe is stepping up. Together, the UK and our allies are piling the pressure on Putin, going after his oil, gas and shadow fleet and we will not relent until he abandons his failed war of conquest," said UK Foreign Secretary Yvette Cooper, announcing the sanctions in Parliament.

The timing of the announcement coincides with the Russian Energy Week in Moscow, which is a forum where Putin is expected to promote his country’s energy exports to non-Western buyers. The FCDO said the sanctions were aimed at "undermining" the Kremlin’s attempt to secure new markets for its oil and gas.

"To further restrict the flow of funds to the Kremlin, the UK has today announced that we will ban imports of oil products refined in third countries from Russian-origin crude oil," the department added.

NAYARA ENERGY CONDEMNS INTERNATIONAL PRESSURE

Nayara Energy, which operates India’s second-largest private oil refinery in Vadinar, Gujarat, has previously come under scrutiny from Western nations for purchasing Russian crude. The company, part-owned by Russian oil giant Rosneft, has rejected allegations that its imports undermine sanctions.

Earlier this year, Nayara was also targeted by the European Union in similar sanctions.

"Nayara Energy operates in full compliance with the laws and regulations of India. As an Indian company, we are deeply committed to supporting the nation’s energy security and fostering economic growth," the company said in a statement, as per PTI.

It also denounced the EU’s unilateral move as "baseless," claiming it ignored international law and India’s sovereignty. "This unilateral move by the European Union is founded on baseless assertions, representing an undue extension of authority," the company said.

In addition, the sanctions included companies across Thailand, Singapore, Turkiye, and China alleged to be part of Russia’s military supply chain, providing electronic components used in drones and missiles deployed against Ukraine.

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