UK sanctions Slavneft and Vostok Oil in new Russia package

The UK announced new sanctions on November 12 targeting Russian oil producer Slavneft, Rosneft’s Arctic project Vostok Oil, coal companies and vessels carrying Russian oil and liquefied natural gas.

The government says the package aims to constrain Russia’s energy revenue and increase pressure for negotiations over the war in Ukraine. Its announcement was tied to the European Political Community meeting in Dublin.

Downing Street said the measures include major coal companies and vessels in what it calls the shadow fleet. It named Slavneft and LLC Vostok Oil, which it described as an Arctic oil and gas project, among the targets.

Before the new measures, Russian crude oil exports brought in an estimated average of €449 million a day in October, up 19% from September, according to the Centre for Research on Energy and Clean Air. The estimate covers crude export revenue across the month.

The research group says its daily figures are averages derived using a pricing method and month-end data snapshots. Shipment and trade data are verified and revised by its provider, so later monthly estimates can change.