Russia has overtaken Libya and Iran as the country where the British government has imposed the most sanctions, and the value of frozen Russian assets is £ 6bn higher than the amounts reported under all other UK sanction regimes. London has frozen £ 18bn of assets owned by Russian oligarchs, other individuals and entities under sanctions.
The British government said on Thursday that since the beginning of the Russian invasion of Ukraine, it has frozen assets totaling £ 18bn belonging to Russian oligarchs, other individuals and entities targeted by the sanctions.
The Financial Sanctions Implementation Bureau, which reports to the Ministry of Finance, has said that as a result Russia has overtaken Libya and Iran as the country on which the British government has imposed the most sanctions, and the value of frozen Russian assets is £ 6bn higher than the amounts reported in all other British sanctions regimes.
1,200 people and over 120 companies
We have imposed the strictest sanctions on Russia in history and this is paralyzing their war machine. Our message is clear: we will not allow Putin to succeed in this brutal war, said Andrew Griffith, one of the deputy ministers at the finance ministry.
The British government began imposing sanctions, usually consisting of an asset freeze, a ban on transactions with British entities and a ban on entry into the UK, on February 24, the day Russia invaded Ukraine.