London: The UK announced nearly 300 new sanctions on Tuesday with its "biggest" sanctions package, targeting Russia's critical revenue streams, including its energy sector, and military suppliers. A statement from the Foreign Office said the sanctions, announced on the fourth anniversary of the Ukraine War, represent the largest package of sanctions against Russia in this period.

According to Anadolu Agency, today's action targets one of the world's largest oil pipeline companies, PJSC Transneft, responsible for transporting over 80% of Russian oil exports, further hampering the Kremlin's desperate scramble to find buyers for its sanctioned oil. The new measures also targeted Russia's covert oil trading network, sanctioning 175 companies linked to the '2Rivers' oil group-one of the world's largest shadow fleet operators and a key trader of Russian crude.

The statement said the sanctions target 49 entities and individuals, including international suppliers of Russian drones, components and technology, as well as actors in Russia's liquefied natural gas sector. It added that nine banks handling Russian cross-border payments are also included in the package.

Foreign Secretary Yvette Cooper commented, "The UK has today taken decisive action to disrupt the critical financing, military equipment, and revenue streams that sustain Russia's aggression, in our largest raft of measures since the early months of the invasion." She also announced £30 million ($40.52 million) in funding to strengthen Ukrainian energy resilience and support recovery, bringing the total UK support to £21.8 billion since the start of the war.

Cooper reiterated the UK's commitment to standing with the people of Ukraine and defending European security, emphasizing that "Ukraine's security is our security."