The punitive measures are wide-ranging: they will target Russia’s officials, businessmen, as well as the country’s banking, technology and key industrial sectors.

The country produced 2.9 million tonnes of oil and condensate and 4.1 bcm of gas in the first month of the year.

But continued shelling prevented a planned evacuation of the port of Mariupol on the Sea of Azov, where food and water were in very short supply after a week of Russian encirclement.

Development of the Azeri-Chirag-Guneshli (ACG) oilfield and the Shah Deniz gas field are the main energy projects in Azerbaijan.

The country’s partners have already pledged around $15 billion in financial aid in a move to support Ukraine’s economy and army amid a military conflict with Russia.