The West must show Moscow that it stands “completely” behind Ukraine by sanctioning everything Russian it can, Britain’s foreign secretary David Cameron has said.
Cameron spoke at a press conference in London as Rishi Sunak’s government announced new sanctions against Russia. His remarks were published on Friday, by the Italian daily Corriere della Sera.
“We will show [Russian President Vladimir] Putin that we are completely behind Ukraine: we will chase the money and the oil, we will stop the gas, we will stop the ships, we will do everything we can to stop the Russian war machine and show Putin the folly of his actions,” Cameron told the Italian outlet
The UK is “hunting” companies that do business with Russia “all over the world,” he said. “We will sanction companies in China, in Türkiye, in Kyrgyzstan, even in Israel, that we believe are supplying dual-use material” to Russia, he added.
Of special concern to Cameron was the so-called shadow fleet of tankers delivering Russian oil in defiance of the G7 “price cap” and the Western embargo. The UK has used its dominance in the global shipping insurance industry to blacklist all Russian vessels, hindering the deliveries of everything from oil to food – but blaming Moscow for it.
Faced with Ukrainian setbacks on the battlefield, the US and the UK launched another wave of sanctions against Russia this week, expanding their definition of Moscow’s war effort to target individuals and companies around the world allegedly helping it.
The US Treasury Department openly stated that its objective was to raise “the risk of secondary sanctions for foreign financial institutions” that deal with Russia, threatening to deprive them of access to Western finance.
China has responded by condemning “illegal unilateral sanctions” and vowing to protect its citizens and companies from American “abuse.” Beijing also denounced Washington for fueling the Ukraine conflict by sending weapons and ammunition to Kiev.
The US “has totally undermined trust in the dollar as a global reserve currency by imposing illegal sanctions” against Russian banks, said the chairman of the Russian State Duma, Vyacheslav Volodin. “The dollar has become toxic,” he added, predicting that the sanctions will result in more and more countries moving away from US securities.
Cameron was prime minister from 2010-2016 but resigned after UK voters surprisingly voted to leave the EU. He returned to the government in November 2023 as Sunak’s foreign secretary. The UK is headed for a general election in July, which the ruling Conservatives are widely expected to lose.