Raab: ‘Nothing off the table’ on sanctioning Russian oil and gas assets
The UK government is still considering sanctions on Russian oil and gas supplies, according to comments made by deputy prime minister Dominic Raab today.
Raab told the BBC: “I think we will look at that very carefully… As we take action to starve the Russian war machine, there is nothing that is off the table.”
Western countries including the UK, the US and nations within the European Union (EU) has already imposed economic sanctions on Russia and its banks.
Switzerland even broke its historic tradition of neutrality by freezing Russian assets yesterday.
Much of the EU relies on Russia for its oil and gas supplies, however, the likes of BP and Shell have already started bailing out of Russia’s industry.
BP saw shares slump in London yesterday following its decision to sell its nearly 20 per cent stake in Russian oil business Rosneft.
While Shell has ditched a number of Kremlin-backed assets following intense pressure to divest, which includes its 27.5 percent stake in the Sakhalin-II liquefied natural gas facility, its 50 percent stake in the Salym Petroleum Development and the Gydan energy venture.