Russia sanctions: 370 more targeted by UK

Published by Scott Challinor on March 16th 2022, 12:00am

The UK government has announced that 370 more Russian individuals will be sanctioned, including former Russian president Dmitry Medvedev.

Westminster is continuing to squeeze Moscow as Russia’s assault on Ukraine continues, with more asset freezes and travel bans issued to affected individuals, and trade restrictions implemented including a further 35 per cent tariff on vodka.

The latest wave of sanctions comes after the Economic Crime Bill was fast-tracked through Parliament, making it easier for ministers to take action against allies of Russian president Vladimir Putin.

The Bill enables Westminster to sanction individuals who have already faced action from the EU, US or Canada, and prevents the City of London being used for money laundering by oligarchs.

Medvedev, who served as president between 2008 and 2012 and PM from 2012 to 2020, is the incumbent deputy chair of the Security Council of Russia.

Alongside Medvedev, other high-profile individuals among the latest to face sanctions include Russian PM Mikhail Mishustin, defence minister Sergei Shoigu, Putin’s press secretary Dmitry Peskov and Russian foreign affairs spokeswoman Maria Zakharova.

The UK government said that its latest list of sanctioned individuals boasted a combined net worth of approximately £100 billion, including several with shares in Alfa Bank.

Foreign secretary Liz Truss said that the UK was holding those “complicit in Russia’s crimes in Ukraine” to account.

She said: “We are going further and faster than ever in hitting those closest to Putin.

“We are holding them to account for their complicity in Russia's crimes in Ukraine. Working closely with our allies, we will keep increasing the pressure on Putin and cut off funding for the Russian war machine.”


Photo by Felipe Simo on Unsplash


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Authored By

Scott Challinor
Business Editor
March 16th 2022, 12:00am

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