UK targets 65 Russian industries, business elites, banks with fresh sanctions

The UK has imposed new sanctions on Russia’s 65 strategic industries, banks, and business elites on Thursday.

According to a government statement, the sanctions are aimed at “those helping Russia’s invasion of Ukraine, including the Wagner Group, several defence corporations, and Russian Railways.”

Since the beginning of Russia’s military assaults’ on Ukraine, the UK has “sanctioned over 1,000 individuals and businesses under the Russia sanctions regime.”

Foreign Secretary Liz Truss said, “These oligarchs, businesses, and hired thugs are culpable in the killing of innocent civilians, and it is appropriate that they pay the price.”

Moreover, ” Russian President Putin should be aware that we are united with our allies and will continue to tighten the screws on Russian economy in order to assure his failure in Ukraine. There will be no pause in the action.”

“All those sanctioned today will have their UK assets frozen, meaning no UK citizen or firm will be able to do business with them. Individuals who are subject to travel bans will be unable to travel to or from the United Kingdom, “she stated.

“Today’s sanctions will bring the total global asset value of the banks sanctioned by the Britain since the Russia’s military operation in Ukraine to £500 billion ($658 billion), and the oligarchs’ and family members’ net worth to over £150 billion ($197 billion),” she added.

“The country will continue to tighten the screw and apply sanctions to destroy the Russian economy on a scale that the Russia, or any major economy, has have never seen before,” Truss added.

Zurab Kvaratskhelia

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