United Kingdom

Britain imposes new large-scale sanctions on starving Putin’s military vehicle

  • Complete freeze on assets of Russia’s largest bank announced և Suspension of British foreign investment in Russia
  • Great Britain will stop all imports of Russian coal և oil by the end of 2022 կ will take measures against oligarchs և key strategic areas.
  • Foreign Minister to urge G7 partners to keep pace with further wave of sanctions during tomorrow’s meeting

Following further reports of heinous attacks on civilians in Ukraine this week, the Foreign Minister announced today (Wednesday, April 6) that the UK’s sanctions against Russia have been significantly tightened.

As a leading voice calling for international action, the UK ‘s fifth package of measures will end key sectors of the Russian economy and end our dependence on Russian energy. Today’s measures were taken in connection with our global allies, as the EU also banned the import of Russian coal, and the US imposed sanctions on SberBank.

Announcing the package, Foreign Minister Liz Truss said:

Today, we are stepping up our campaign to end Putin’s terrible war with the toughest sanctions.

Our latest wave of action will end Britain’s imports of Russian energy, punish more individuals, and businesses by destroying Putin’s military vehicle.

Together with our allies, we show the Russian elite that they can not wash their hands of the atrocities committed by Putin. We will not rest until Ukraine wins.

The main sanctions announced today include:

  • The assets were frozen against Sberbank և Moscow Credit Bank. Sberbank is the largest bank in Russia, this freezing is carried out in coordination with the United States.

  • Explicit ban on all new foreign investments in Russia. In 2020, the UK’s investments in Russia amounted to more than 11 billion pounds. This will be another serious blow to the Russian economy and will further limit their future opportunities.

  • By the end of 2022, the UK will end all dependence on Russian coal and oil, and after that it will stop importing gas as soon as possible. From next week, the export of basic oil refining equipment – catalysts – will be banned, which undermines Russia’s ability to produce and export oil, focusing not only on industry finances but also on its overall capabilities.
  • Action against Russia’s main strategic industry և state enterprises. This includes banning the import of iron and steel products, which are the main source of income. Russia’s military ambitions are being thwarted by new limitations on Britain’s ability to acquire world-famous quantum advanced technology.

  • And targeting the eight oligarchs who are active in those areas that Putin uses to support his war economy.

These include:

  • Viatcheslav (Moshe) Cantor, the largest shareholder in the fertilizer company Acron, which is of strategic importance to the Russian government.
  • Andrei Gur, a well-known close associate of Vladimir Putin, is the founder of FosAgro, a powerful strategic fertilizer company.
  • Sergei Kogogin, director of Kamaz, manufacturer of trucks and buses, including for the Russian military.
  • Sergei Sergei Ivanov – President of the world’s largest diamond producer Alrosa, which was also approved by the United Kingdom.
  • Leonid Michelson, Founder-CEO of Novatek, a leading Russian natural gas company with a fortune of 18 billion pounds.
  • Andrey Akimov – Executive Director of Russia’s third largest bank, Gazprombank.
  • Alexander Dyukov is the CEO of Gazprom Neft, Russia’s third-largest oil producer.
  • Boris Borisovich Rotenberg, the son of the co-owner of the largest SGM manufacturer of the Russian gas pipeline. The Rotenbergs are known for their close ties to Putin, and some of them have already been sanctioned.

At tomorrow’s meeting of the G7 foreign ministers, the foreign minister will call for further collective action, including an accelerated timetable, so that all G7 countries can end their dependence on Russian energy.

He will call on the G7 to continue to unite in order to impose further coordinated waves of sanctions on Putin’s economic elite over Russia until Russia withdraws its troops and halts its brutal campaign of aggression against Ukraine once and for all.

Background:

Freezing of assets

Freezing of assets does not allow anyone in the United Kingdom, or a UK national or registered company anywhere in the world, to deal with the assets or economic resources owned, managed or controlled by a designated person. It will also prevent the designated person from providing or benefiting from his or her resources or economic resources.

Travel ban

A travel ban means that a designated person must be denied entry or stay in the United Kingdom, ensuring that the individual is excluded under Section 8B of the Immigration Act 1971.

Transportation sanctions

The recently adopted mandate criminalizes the flight or landing of any Russian aircraft in the United Kingdom; . Russian ships are also barred from entering British ports.

Britain imposes new large-scale sanctions on starving Putin’s military vehicle

SourceBritain imposes new large-scale sanctions on starving Putin’s military vehicle

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