The Foreign Secretary announced a new package of sanctions, including export bans on every item Russia has been found using on the battlefield to date
- New sanctions ban export of every item Ukraine has found Russia using on the battlefield to date.
- UK sanctions on Russia top 1,500 as FCDO targets 92 individuals and entities, including those connected to Rosatom.
- Putin’s closet allies also sanctioned, including his former Chief of Security and the CEO of Nord Stream 2.
Foreign Secretary James Cleverly has today (24 February) announced a new package of internationally co-ordinated sanctions and trade measures, including export bans on every item Russia has been found using on the battlefield to date.
Included in the hundreds of goods are aircraft parts, radio equipment, and electronic components that can be used by the Russian military industrial complex, including in the production of UAVs.
Military intelligence has shown that a shortage of components in Russia as a result of sanctions is already likely affecting their ability to produce equipment for export, such as armoured vehicles, attack helicopters and air defence systems.
As a result, it is highly likely that Russia’s role as a reliable arms exporter and their military-industrial complex are being undermined by international sanctions. Today’s measures will damage them further, undermining Putin’s military machine which is already having to mobilise soviet-era tanks and harvest freezers for low-grade chips.
Foreign Secretary James Cleverly said: “Ukrainians are turning the tide on Russia, but they cannot do it alone. That is why we must do more to help Ukraine win.
“Today we are sanctioning the elites who run Putin’s key industries and committing to prohibit the export to Russia of every item Russia has been found using on the battlefield.”
Also sanctioned today are senior executives at Russian state-owned nuclear power company Rosatom, plus executives from Russia’s two largest defence companies, four banks, and other Russian elites.
Rosatom has deep connections to the Russian military-industrial complex – including through Alexander Novak who is both a member of the supervisory board and the Deputy Prime Minister in Putin’s administration.
The state-owned firm has reportedly been supplying arms manufacturers with the technology and materials needed to resupply Russia’s front line, including to defence firms that are under sanctions.
Four banks, including MTS, are also being sanctioned as part of today’s package. This will further isolate Russia from the international financial system and help the UK and partners to prevent circumvention.
Today’s designations also target the individuals and entities at the heart of Putin’s military-industrial complex, including:
- 34 executives connected to Russia’s two largest defence companies Rostec, Russia’s multibillion state owned defence conglomerate, and Almaz-Antey Corporation, a state owned Russian company specialising in producing surface to air missiles and firearms for aircrafts.
- 6 Russian entities involved in the manufacture or repair of military equipment for Russia’s armed forces, including aviation and navy
- 5 senior Iranian executives in Qods Aviation Industry, the company manufacturing the drones used in Ukraine, which demonstrates our commitment to continue to pressure third countries supplying Russia’s military.
The UK is also announcing new major trade measures, undermining Russia’s military machine and cutting at Putin’s finances. Alongside banning exports of products found used by Russia on the battlefield, the UK will also ban the import of 140 goods including iron and steel products processed in third countries.
Business and Trade Secretary, Kemi Badenoch said: “Trade sanctions are working. UK goods imports from Russia have fallen by 99%, since before the invasion, and goods exports to Russia have fallen by nearly 80%.
“Working together with our G7 international partners, the Department for Business and Trade is delivering sanctions to further erode Putin’s capabilities to wage war against Ukraine. We will back Ukraine for as long as it takes.”
The UK has also announced that it will be extending existing measures against Crimea, and non-government controlled territory in Donetsk and Luhansk oblasts, to target Russian controlled areas of Kherson and Zaporizhzhia oblasts, restricting their access to UK trade and finance.
Today’s measures also increase pressure on the Russian elite. This includes sanctions on:
- Mattias Warnig – a close friend of Putin’s, the CEO of Nord Stream 2, and previously a member of the boards of Russian energy companies Transneft and Rosneft
- Lyubov Kabaeva – mother of former Russian gymnast and Duma Deputy Alina Kabaeva who allegedly has a close personal relationship with Putin. The Kabaeva family reportedly own millions of pounds’ worth of property in Russia
- Alexei Dyumin – formerly Putin’s chief security guard who played a key role in the annexation of Crimea. Dyumin has been actively involved in supporting the Russian military in Ukraine, including launching and facilitating a drone training school for Russian troops
- Alexei Kozak, son of the former Deputy PM and Putin ally Dmitry Kozak
- 20 executives of Gazprom and Aeroflot, including Gazprom Chairman and former Russian Prime Minister Viktor Zubkov and two current Russian Ministers.
Today’s new measures come as the Foreign Secretary travels to the UN, where he will urge the international community to support Ukraine as long as it takes, one year on from the start of Russia’s illegal full scale invasion.
G7 increases funding for Ukraine to £39 billion in 2023
| UK Chancellor Jeremy Hunt and other G7 Finance Ministers and Central Bank Governors have committed to continued financial support for the Ukrainian government in 2023 to a total of US$39 billion at their latest meeting in Bengaluru, India. |
| The G7 Finance Ministers and Central Bank Governors met and were joined by Ukrainian Finance Minister Sergii Marchenko, where they condemned Russia’s war of aggression. Chancellor of the Exchequer Jeremy Hunt said: “We heard first-hand from Ukrainian Finance Minister Sergii Marchenko how additional funding is helping protect the lives of ordinary Ukrainians. This really hammers home the importance of the UK and our allies continuing to back Ukraine in its fight against Putin’s illegal invasion. “This additional support will save lives in Ukraine, help the government carry out critical repairs of damaged infrastructure, deliver basic services like healthcare and stabilise the economy.” |