British sanctions around Ukraine war have cost Kremlin cronies which include ex-Chelsea operator Roman Abramovich £18 billion
- Much more than 1,200 people have been strike with asset freezes and vacation bans
- Property truly worth more than £18bn have been frozen in reaction to Ukraine’s invasion
- The large sum dwarfs the sum qualified in all the UK’s past sanctions
- Trade restrictions have even been slapped on merchandise these as caviar and vodka
Britain has frozen Russian assets well worth much more than £18 billion in response to Vladimir Putin’s invasion of Ukraine, it can be revealed now.
The substantial sum, disclosed for the to start with time, dwarfs the amount focused in all of the UK’s former sanctions regimes.
Extra than 1,200 persons, together with oligarchs these as ex-Chelsea proprietor Roman Abramovich, generals and even the head of the Orthodox Church, have been strike with asset freezes and vacation bans.
In addition, airlines and banking institutions are among the the 120 businesses prevented from boosting funds in British isles financial marketplaces. And export bans on metal and technologies have severely broken Putin’s war equipment, forcing the army to use Soviet-era tanks.
Trade limits have even been slapped on iconic Russian products these as caviar and vodka by the Uk.
Chelsea’s Russian operator Roman Abramovich looks on during the English Premier League soccer match between Chelsea and Bolton Wanderers at Stamford Bridge in London. More than 1,200 people today, which includes oligarchs the ex-Chelsea owner, have been strike with asset freezes and travel bans worth far more than £18 billion it complete
Russia’s economic system is crumbling as a result of world sanctions, with its GDP predicted to drop by 6.2 for every cent this year when compared with pre-invasion forecasts.
The consequences of the UK’s reaction to the invasion are disclosed today in the yearly evaluate of the Office of Fiscal Sanctions Implementation (OFSI) watchdog.
A whole of £18.39 billion of Russian assets frozen below the UK’s sanctions routine ended up claimed to OFSI amongst February 22 and October 29, the report reveals.
Financial secretary to the Treasury Andrew Griffith stated final night time: ‘We have imposed the most significant sanctions at any time on Russia and it is crippling their war equipment. To continue to keep the force on Putin’s corrupt cronies we are extra than doubling OFSI’s headcount.
‘Our information is very clear: we will not allow Putin to be successful in this brutal war.’
Foreign Business office minister Anne-Marie Trevelyan extra: ‘When Putin invaded Ukraine he assumed we would sit idly by.
‘He was wrong. We will continue to ramp up our sanctions to exert highest financial stress on the Russian routine till Ukraine prevails.’
Patriarch kirill, head of the Russian Orthodox Patriarch, is 1 of several figures to have been given sanctions. Trade constraints have even been slapped on legendary Russian items these types of as caviar and vodka by the United kingdom
