Overview
- The UK Treasury published an updated sanctions list on December 18 that names Tatneft and Russneft, along with NNK-Oil and Rusneftegaz Group.
- The update covers 24 individuals and entities in total, with 19 companies designated, including firms from Uzbekistan, Kyrgyzstan and the United Arab Emirates.
- Government documents cite reasonable grounds that Tatneft is an involved organisation by benefiting the Russian state through activity in a strategically important sector.
- Separately the European Union barred 41 tankers from entering member-state ports to counter ship-based sanctions evasion linked to Russia.
- Russian officials have repeatedly dismissed Western restrictions as ineffective, and there were no immediate retaliatory measures announced by Moscow.