The British government on Wednesday imposed sanctions against two of Russia’s largest energy companies, four oil terminals in China and 44 “shadow fleet” tankers accused of transporting Russian oil.

London said the two energy companies were supporting the Russian government through their business dealings by exporting 3.1 million barrels of oil per day and described the new sanctions as a “huge blow” to Russian President Vladimir Putin’s war effort.

Other action was taken against the so-called “shadow fleet,” which allows Russia to export oil. The UK also sanctioned seven specialised LNG tankers and an LNG terminal.

The new sanctions, all announced by the Foreign Secretary Yvette Cooper in Parliament yesterday, come as Chancellor Rachel Reeves arrives in Washington DC for the International Monetary Fund Annual Meetings, where she will meet G7 Finance Ministers and attend a Ukraine roundtable to rally global partners to cut off revenues reaching the Russian regime.

Chancellor Rachel Reeves said the move was expected to have a significant impact on Russia’s economy and its ability to sustain military operations in Ukraine.

“We are sending a clear signal: Russian oil is off the market,” she said, adding that the government was significantly stepping up pressure on Russia. “The UK will continue to strip away the funding that fuels his war machine. We will hold to account all those enabling his illegal invasion of Ukraine.”

The measures come as new data released yesterday reveals that UK sanctions have frozen £28.7bn of Russian assets since February 2022.

UK’s Foreign Office and Treasury acted in tandem, with Foreign Secretary Yvette Cooper introducing sanctions in parliament and Chancellor Rachel Reeves leading discussions with international partners in Washington DC.

Foreign Secretary, Yvette Cooper said in Parliament that the UK and its allies are piling the pressure on Putin, going after his oil, gas and shadow fleet: “Today’s action is another step towards a just and lasting peace in Ukraine, and towards a more secure United Kingdom. The action we are taking against Russian aggression with partners across Europe makes us stronger here at home.”

Overall, the British government said it imposed 90 new sanctions.