Russia warns that UK sanctions will backfire

ISTANBUL

Russia’s embassy in London warned Wednesday that new UK sanctions against Russian oil giants Rosneft and Lukoil are affecting energy markets, saying attempts to “strangle” Russia’s economy will ultimately backfire.

“Attacks on leading Russian oil and gas companies are destabilizing global energy markets and ultimately impacting consumers around the world, including ordinary Britons and local businesses,” the embassy said in a statement.

It said the measures will also worsen energy insecurity in the Global South.

“Contrary to the loud assurances of British leaders, these restrictions will have no impact on Russian foreign policy,” it added. “It’s high time London realized that attempts to blackmail our country and to speak to us in the language of sanctions and threats are senseless and futile.”

The embassy said the UK’s actions were “driven by the growing desperation of the British establishment” amid the “deteriorating position” of Ukrainian forces on the battlefield.

It said sanction pressure “only complicates peaceful dialogue and leads to further escalation,” asserting that Russia would continue to defend its national interests and ensure economic stability.

The UK government announced a new package of sanctions earlier Wednesday targeting Rosneft, Lukoil, several banks and dozens of tankers and companies from China, the United Arab Emirates, India, Thailand and Singapore accused of helping transport Russian oil.

The measures are part of London’s continued efforts to limit Russia’s energy revenues amid its ongoing war in Ukraine.