The latest sanctions target over 100 entities and individuals integral to Russia’s war efforts. Key measures include:

• Military supply chains: Disruption of access to advanced military systems like Iskander missiles, recently deployed in civilian strikes.
• Energy exports: Sanctioning 18 vessels in the "shadow fleet" to curtail revenue from oil exports, a critical income source for Russia.
• Financial institutions: Restrictions on 46 entities, including the St Petersburg Currency Exchange, isolating Russia's financial system.
• Propaganda networks: Comprehensive sanctions against the Social Design Agency and key associates linked to Kremlin-backed disinformation campaigns.

These actions aim to weaken Russia's tactical and economic resilience, adding pressure to an already strained economy.

The sanctions follow Russia’s largest drone strike yet and its refusal to agree to a ceasefire. UK Foreign Secretary David Lammy emphasised that the measures aim to make Putin’s war economically unsustainable.

The UK also supports tightening the G7 Oil Price Cap to reduce Russia’s oil income and is aligning with international efforts like the EU’s 17th sanctions package.

These measures support the broader Western objective of weakening Russia’s ability to sustain its war effort. With over 40% of Russia’s federal budget now devoted to military spending, the mounting economic pressure is clear. Coordinated actions—such as the EU’s 17th sanctions package—reflect a united international front committed to securing a just peace for Ukraine.

Highlighting the moral urgency of these steps, the UK Prime Minister stated, “Peace efforts delayed by aggression must see the aggressor pay the price.” By sanctioning individuals, including British nationals involved in evading restrictions, the UK reinforces a strong message of accountability and deterrence.

The UK remains committed to a long-term strategy of tightening restrictions and ensuring global coordination. Upcoming efforts—such as revisiting the Oil Price Cap and targeting financial evasion—will further constrain Russia’s war efforts and support the path toward lasting peace.

Under the amendments to the Russia (Sanctions) (Overseas Territories) Order 2020, which gives effect to the Russia (Sanctions) (EU Exit) Regulations 2019, the relevant provisions are automatically extended to the UK Overseas Territories (UKOTs), including the British Virgin Islands and the Cayman Islands. However, each UKOT will require additional domestic legislation to ensure full implementation within its respective jurisdiction.

Bermuda will implement the necessary legislation in alignment with the approach adopted by other UKOTs and in accordance with the International Sanctions Regulations 2013.

UK’s press release can be found here.