Europe must double down on its efforts to crush Putin's war
machine as Russia's economy shows signs of weakening, the Prime
Minister will warn tomorrow [Monday 3 February].
As he travels to Brussels for defence and security talks, he will
urge the UK's closest allies to step up and shoulder more of the
burden in order to keep Europe safe against Russia's increasing
campaign of sabotage and destruction on our continent.
Putin is facing mounting domestic pressure as a result of his
struggling economy, having ploughed billions into bankrolling his
war machine – leading to skyrocketing inflation and soaring
interest rates in Russia.
The recent sanctions imposed on Putin's shadow fleet and energy
companies have dealt a severe blow to Russia's oil
trade. Russian oil and gas revenues were down 29% in 2024
compared to 2022, and the sanctions have led to a sharp rise in
shipping costs, with the majority of sanctioned vessels left
unable to trade.
The UK and its allies have introduced the most punishing
sanctions ever imposed on any global economy, with Putin himself
admitting that these are causing a “colossal number of
difficulties”.
The UK alone has sanctioned more than 2,100 individuals and
entities under the Russia sanctions regime, over 1900 of which
were imposed since Putin's full-scale invasion. This includes
more than 100 ships for transporting Russian energy, including 93
oil tankers.
The Prime Minister will call on Europe to keep up the pressure on
Putin, alongside sustained military support to Ukraine, to put
them in the strongest possible position this year.
The Prime Minister will say today:
“We need to see all allies stepping up – particularly in
Europe.
“President Trump has threatened more sanctions on Russia and
it's clear that's got Putin rattled. We know that he's worried
about the state of the Russian economy.
“I'm here to work with our European partners on keeping up
the pressure, targeting the energy revenues and the companies
supplying his missile factories to crush Putin's war
machine.
“Because ultimately, alongside our military support, that is
what will bring peace closer.”
The Prime Minister has prioritised security as a foundation for
his Plan for Change, believing every mission relies on a strong
security base, from ensuring the UK's Armed Forces have the
cutting-edge equipment they need, to securing medical supply
chains and increasing diversification in energy supplies.
Tomorrow afternoon, he will meet with NATO Secretary General Mark
Rutte, before travelling to meet with the leaders of the 27 EU
Member States at an informal meeting of the European Council.
There, the Prime Minister will set out his pitch for an ambitious
UK-EU defence and security partnership with a number of steps to
increase co-operation on shared threats, and go further on
cross-border crime and illegal migration, while delivering growth
and security at home.
The session of the Informal European Council is part of the Prime
Minister's ongoing commitment to strengthen our partnership with
the European Union in order to drive growth, boost living
standards and keep the UK safe and secure.
The Prime Minister is committed to making Brexit work better for
the British people while keeping within his red lines – no return
to freedom of movement and no re-joining the customs union or
single market.
