Tag: invasion

UK sanctions on Russia top £18 billion

  • New figures released today reveal the full effect of UK sanctions on Russia – with over £18 billion frozen and reported to OFSI.
  • The figure, released in OFSI’s Annual Review, is around £6 billion more than held across all other UK sanctions regimes.
  • The UK and its allies have imposed the most severe sanctions Russia has ever faced, sanctioning more than 1,200 individuals and more than 120 entities.

New data released today (10th) reveals the full effect of UK sanctions on Russia – with £18.39 billion of Russian assets frozen and reported to the Office of Financial Sanctions Implementation (OFSI).

The figure, released for the first time in OFSI’s Annual Review, demonstrates the key role the UK has played in standing up to Russia following their illegal invasion of Ukraine. It is nearly £6 billion pounds more than reported across all other UK sanctions regimes.

In conjunction with its allies, the UK has imposed the most severe sanctions Russia has ever faced, designating more than 1,200 individuals, over 120 entities and freezing the assets of 19 Russian banks with global assets of £940 billion since they began their illegal invasion.

Economic Secretary to the Treasury, Andrew Griffith said: “As staunch defenders of democracy, the UK is united with its allies in opposition to Russia’s barbaric and unprovoked invasion of Ukraine. We have imposed the most severe sanctions ever on Russia and it is crippling their war machine.

To make sure we are doing all we can to keep the pressure on Putin’s corrupt cronies we are more than doubling OFSI’s headcount. Our message is clear: we will not allow Putin to succeed in this brutal war.

FCDO Minister of State, Anne-Marie Trevelyan said: “When Putin invaded Ukraine he assumed we would sit idly by. He was wrong. Instead, the UK and our international partners have stood shoulder to shoulder with Ukraine in their fight for territorial integrity and political independence.

“Today’s report shows the scale of UK sanctions – freezing over £18 billion of Russian assets to stop Putin funding his war machine. We will continue to ramp up our sanctions to exert maximum economic pressure on the Russian regime until Ukraine prevail.”

By implementing these sanctions alongside our international partners, the UK is degrading Russia’s military machine. Despite the Russian regime’s attempts to firefight, GDP is predicted to decline by up to 6.2% in 2022 when compared to pre–invasion forecasts, and decline a further 2.3% in 2023. 60% of Russia’s foreign reserves have been immobilised, Russia’s exports have plummeted, and imports of critical goods have dropped by 68% from sanctioning countries.

The £18.39 billion figure is a significant contribution to the $30 billion of frozen Russian assets reported by the Russian elites, proxies, and oligarchs (REPO) taskforce in June. All this is having a major impact on the Russian military complex – vital semiconductors are now being scavenged from fridges and soviet-era equipment is being sent to the front line.

In order to ensure that the most stringent financial sanctions in history on Russia have not adversely affected the UK’s private and voluntary sectors, where appropriate OFSI has worked with businesses and granted general and specific licences allowing UK businesses to move away from Russian facing positions without an increased risk.

These licences have been granted where sufficient evidence has been provided and are often for basic needs and legal fees. The careful granting of these licences by OFSI in line with legislation, has helped UK individuals and businesses to function throughout a challenging period and helped maintain the UK’s place as a centre for financial stability.

The Russia sanctions regime will continue to play a major part of the OFSI’s work for as long as Putin’s illegal war against Ukraine continues. The government has committed to ensuring that OFSI is fully resourced, more than doubling its headcount.

‘The right thing to do’: Home Secretary supports first Ukrainians through new Family Scheme

Home Secretary Priti Patel reiterated her pledge to stand shoulder-to-shoulder with the people of Ukraine when she met refugees on the Polish border yesterday.

It came as the Home Office launched its Ukraine Family Scheme, which will allow thousands of families to be reunited in the UK.

The Home Secretary visited a reception centre for Ukrainian refugees in Medyka, one of the main border crossings between Poland and Ukraine. Accompanied by Poland’s Deputy Interior Minister Bartosz Grodecki, she met with families, women and children who will apply to join family members in the UK.

She spoke to them about the UK Government’s Ukraine Family Scheme, which allows immediate and extended family members of British nationals and people settled in the UK to come to the country, and announced that those joining family through the Scheme will now be granted leave for 3 years – giving them certainty and ensuring their future in the country.

Expert Home Office staff have travelled to Poland to provide advice to refugees including processing visas and ensuring a rapid visa service to help with the flow of people coming over the Ukrainian border.

Home Secretary Priti Patel said: It’s heart-breaking to have met families, women and children forced from their homeland because of the monstrous Russian invasion.

“Our expanded Ukraine Family Scheme is now fully open and to see the first people who will apply was wonderful. While we want people to be able to return to their homes at the end of this diabolical invasion, giving thousands of people a route to the UK is the right thing to do.

“The whole of the UK is united in our condemnation of Russia’s barbaric and cold-blooded actions and the government is doing everything possible to make certain our humanitarian support is in Ukraine’s best interests.”

These routes have been developed following close consultation with Ukrainian leaders and leaders in the region to ensure our measures respond directly to their needs and asks. On the visit Deputy Interior Minister Bartosz Grodecki spoke about the UK’s continued support in the region.

The Home Office has already increased capacity to other countries including Hungary, Poland and Moldova. A new pop-up Visa Application Centre in Rzeszow, Poland, has been opened, while the combined total number of appointments in the region will increase to 6,000 from next week.

This forms part of the wider effort to support Ukraine in the face of the Russian invasion. The UK continues to back Ukraine with defensive weapons and economic support as well as £220 million in emergency and humanitarian aid.

The Ukraine Family Scheme is part of a series of measures that have already been announced:

  • Earlier this week, the Prime Minister announced that we are working at pace to establish the Local Sponsorship Scheme for Ukraine for Ukrainians with no ties to the UK to come here. The uncapped route will allow sponsors, such as communities or local authorities to bring people to the UK. Sponsored individuals will be able to work and the sponsor would provide housing and integration support
  • Last week the Home Secretary confirmed that flexibility would be available to support Ukrainians who are on work, study or visit visas to switch to different visa routes extending their stay and those on seasonal work visas would have their leave temporarily extended
  • The Home Office established 24/7 bespoke helplines to support people through the Ukrainian Humanitarian Route
  • The Home Secretary has also shut down the Tier 1 investor visa route, to ensure people who have profited from dirty money cannot gain access to the UK, and the government will continue to crack down to tackle those beneficiaries of illicit wealth who may have previously abused the system and should not be here.

Truss: Putin must lose in Ukraine

NUCLEAR POWER PLANT ATTACKED

Foreign Secretary Liz Truss gave an opening statement at a press conference with Estonian Foreign Minister Eva-Maria Liimets, Latvian Foreign Minister Edgars Rinkēvičs and Lithuanian Foreign Minister Gabrielius Landsbergis in Vilnius yesterday:

Thank you, Minister Landsbergis, for bringing us together here together in Vilnius.

The United Kingdom stands with our allies in doing all we can to support Ukraine against President Putin’s war of choice. We must ensure Putin fails in this horrific enterprise and his ambitions go no further.

We were pleased to support Lithuania’s leadership referring war crimes to the ICC.

I’m here today in Vilnius with our Baltic friends, because I want to say that the UK’s commitment to Baltics and to Article 5 are unyielding.

Our Baltic friends know what’s at stake, having long lived in the shadow of Russian aggression, and I admire your courage. We are working together to deliver two clear objectives.

First, Putin must lose in Ukraine. We are helping Ukraine to defend itself. Our defensive weapons from the United Kingdom are now being used to stop Russian tanks. But we need to do more.

Secondly, we must contain this aggression. We are reinforcing NATO’s Eastern flank and supporting European security through the UK-led Joint Expeditionary Force.

We are here in the Baltic Region – we lead and have doubled our enhanced forward presence in Estonia. Our allies are leading troops across the Baltics. British military intelligence are working with Lithuania’s military to enhance border defences, including in the Suwalki Gap. 200 troops are doing joint military exercises right now, and we are working together on maritime security.

At the NATO Foreign Ministers’ meeting tomorrow, we will be working together to strengthen our collective defence in the light of the changed security situation across Europe.

In terms of supporting Ukraine with defensive weaponry, the United Kingdom was the first European country to give defensive military support to Ukraine – and we are now also supporting with humanitarian aid. We pledged £220 million in aid support to Ukraine – and we are the top European donor. And we will do more.

We have also been on the forefront in tightening the vice on the Kremlin through sanctions, and it is vital at this juncture that we keep the foot on gas.

We have worked with the EU, the US and the G7 to cut off funding for Putin’s war machine, kicking Russian banks out of the financial system.

We have also shut our airspace to Russian planes, and we are fast-forwarding sanctions against Russian oligarchs, but we need to go further.

We need to make sure no Russian bank has access to SWIFT, and we need to go further on reducing dependency on hydrocarbons from Russia, including oil, gas and coal. We have also launched sanctions against Belarus for aiding and abetting aggression.

I will be raising these issues at the G7 tomorrow and also at the European Union Foreign Affairs Council, alongside the US, Canada and Ukraine, who have also been invited in these extraordinary circumstances.

This is a struggle not just for Ukraine’s freedom and self-determination, but for all of our freedom and security. By continuing to respond with strength, we will together ensure that Putin loses.

And we stand with our brave allies here in the Baltics to do just that.

Prime Minister Boris Johson spoke to Ukrainian President Zelenskyy in the early hours of this morning about the gravely concerning situation at Zaporizhzhia nuclear power station.

Both leaders agreed that Russia must immediately cease its attack on the power station and allow unfettered access for emergency services to the plant.

The Prime Minister said the reckless actions of President Putin could now directly threaten the safety of all of Europe. He said the UK would do everything it could to ensure the situation did not deteriorate further.

The Prime Minister said he would be seeking an emergency UN Security Council meeting in the coming hours, and that the UK would raise this issue immediately with Russia and close partners.

Both leaders agreed a ceasefire was crucial.

“Rarely has the contrast between right and wrong been so stark”

PM statement on the vote at the UN General Assembly: 2 March 2022

Prime Minister Boris Johnson said: “We are united in our abhorrence to the evil actions of Putin’s regime and stand side-by-side on the international stage as we deplore its aggression in the strongest possible terms.

“Rarely has the contrast between right and wrong been so stark. 141 countries voted to condemn Putin’s war.

“Along with my almost daily conversations with President Volodymyr Zelenskyy, I have engaged world leaders in our joint mission to denounce Russia’s actions and make clear – for the sake of innocent civilians – Russia should withdraw from Ukraine and Putin must fail.

“We are – and will continue to be – unified in our resounding admiration for the courage and bravery of President Volodymyr Zelenskyy and the Ukrainian people.”

“International pressure will not relent until every Russian soldier is out of Ukraine”

UK statement after UN General Assembly vote on aggression against Ukraine

Thank you, Mr President, Colleagues,

The United Nations spoke clearly this morning.

141 countries voted in favour of this resolution and against Russian aggression in Ukraine.

It is a clear message:

that we condemn President Putin’s war;

that we support the Ukrainian people;

that we uphold the principles of the Charter.

Russia’s international isolation is clear for all to see.

The Russian people did not want this isolation. They did not want this war.

President Putin’s decision to start this war has made Russia a global pariah.

We will ensure President Putin’s war of choice comes at a heavy cost.

International pressure and isolation will not relent until every Russian soldier is out of Ukraine.

The free world stands with the people of Ukraine.

Our votes today are for the brave Ukrainians who are suffering the barbaric shelling of their cities and are besieged by Russian forces.

We must support the Ukrainian people with the diplomatic, economic, humanitarian and defensive military assistance they so desperately need.

And our votes today are for the sovereignty and the territorial integrity of every state.

We have stood up against those who seek to redraw the world’s borders by threat or use of force.

For if President Putin’s aggression against Ukraine goes unchecked, which country could be next?

Today we have shown that we will defend together the Charter and the rules we built together.

I thank you, Mr President.

Dame Barbara Woodward, the UK Permanent Representative to the United Nations in New York yesterday

Foreign Secretary’s statement on Ukraine situation: 24 February 2022

Following Russia’s announcement that it would conduct a military campaign in Ukraine, Foreign Secretary Liz Truss has issued a statement

Foreign Secretary Liz Truss said: “Russia’s assault on Ukraine is an unprovoked, premeditated attack against a sovereign democratic state. The UK and our international partners stand united in condemning the Russian government’s reprehensible actions, which are an egregious violation of international law and the UN Charter.

“Over recent weeks, the Russian government have repeatedly denied their hostile intent towards Ukraine. At the same time, they have massed troops, launched cyber-attacks, and staged false pretexts and provocations. Today, the Russian government has shown that it was never serious about engaging in diplomacy – focussed only on deceit and furthering their territorial ambitions.

“We are urgently convening discussions with our allies and partners to coordinate our response. Together we will hold the Russian government to account.

“We have always been clear there would be massive consequences and a severe cost for any Russian military incursion into Ukraine. As a result of their actions, we will today launch an unprecedented package of further sanctions that we have developed with our international partners.

“To ensure the security and defence of all our Allies, we will continue to work together to make sure that Russia cannot further undermine European stability.

“We will continue to support the Ukrainian government in the face of this assault on their sovereignty and territorial integrity.

“The UK and the international community stand against this naked aggression, and for freedom, democracy, and the sovereignty of nations around the world. We hold the people of Ukraine in our hearts and minds at this terrible moment in their nation’s history.“

UKRAINE: IT’S WAR

RUSSIA LAUNCHES FULL SCALE INVASION

Russia has unleashed a military invasion of Ukraine, with reports of explosions near major cities across the country.

In a TV address to the Russian people early this morning, President Putin warned Western governments not to interfere.

Russia launched its military operation after recognising the self-proclaimed people’s republics of Donetsk and Luhansk in eastern Ukraine earlier this week. The breakaway pro-Russian regions later asked Moscow for military support, giving Putin an excuse, ifhe needed one, to escalate military operations.

In his announcement early this morning, Mr Putin said the military operation’s objective was to defend those people who had been subjected for eight years to “genocide by the Kyiv regime”.

In the TV statement Russian President Vladimir Putin said Russia did not plan to occupy Ukraine, but said Moscow’s response would be “instant” if anyone tried to stop this.

While Western leaders have condemned Putin’s actions, NATO will not take up arms to support the Ukranian people.

Prime Minister Boris Johnson spoke to Ukrainian President Volodymyr Zelenskyy in the early hours of this morning.

The Prime Minister said he was appalled by the unfolding events in Ukraine.

The Ukrainian President updated the Prime Minister on the attacks taking place, and the Prime Minister said the West would not stand by as President Putin waged his campaign against the Ukrainian people.

The Prime Minister said he hoped Ukraine could resist and that Ukraine and its people were in the thoughts of everyone in the United Kingdom people during this dark time.

The Prime Minister is currently chairing a COBRA meeting to discuss developments in Ukraine.

Further sanctions are the likely outcome, but sanctions on their own will never deter an autocrat hell bent on having his own way. While NATO wrings it’s hands, Putin will be laughing all the way to Kyiv.

PM Boris Johnson gave an address to the nation on the Russian invasion of Ukraine

Shortly after 4 o’ clock this morning I spoke to president Zelenskyy of Ukraine to offer the continued support of the UK because our worst fears have now come true and all our warnings have proved tragically accurate.

President Putin of Russia has unleashed war in our European continent. He has attacked a friendly country without any provocation and without any credible excuse

Innumerable missiles and bombs have been raining down on an entirely innocent population

A vast invasion is underway by land by sea and by air.

And this is not in the infamous phrase some faraway country of which we know little

We have Ukrainian friends in this country; neighbours, co-workers

Ukraine is a country that for decades has enjoyed freedom and democracy and the right to choose its own destiny

We – and the world – cannot allow that freedom just to be snuffed out. We cannot and will not just look away.

It is because we have been so alarmed in recent months at the Russian intimidation that the UK became one of the first countries in Europe to send defensive weaponry to help the Ukrainians

Other allies have now done the same and we will do what more we can in the days ahead

Today in concert with our allies we will agree a massive package of economic sanctions designed in time to hobble the Russian economy

And to that end we must also collectively cease the dependence on Russian oil and gas that for too long has given Putin his grip on western politics

Our mission is clear – Diplomatically, politically, economically – and eventually, militarily – this hideous and barbaric venture of Vladimir Putin must end in failure.

And so I say to the people of Russia, whose president has just authorised a tidal wave of violence against a fellow Slavic people

The parents of Russian soldiers who will lose their lives.

I cannot believe this is being done in your name or that you really want the pariah status it will bring to the Putin regime

and I say to the Ukrainians in this moment of agony

we are with you we are praying for you and your families

and we are on your side

And if the months ahead are grim, and the flame of freedom burns low

I know that it will blaze bright again in Ukraine because for all his bombs and tanks and missiles I don’t believe that the Russian dictator will ever subdue the national feeling of the Ukrainians and their passionate belief that their country should be free

and I say to the British people and all who have heard the threats from Putin against those who stand with Ukraine

we will of course do everything to keep our country safe

We are joined in our outrage by friends and allies around the world

We will work with them – for however long it takes – to ensure that the sovereignty and independence of Ukraine is restored

because this act of wanton and reckless aggression is an attack not just on Ukraine

It is an attack on democracy and freedom in East Europe and around the world

This crisis is about the right of a free, sovereign independent European people to choose their own future – and that is a right that the UK will always defend.

UK hits Russia with targeted sanctions

Oligarchs at the heart of Putin’s inner circle and banks which have bankrolled the Russian occupation of Crimea have been targeted by the first wave of UK sanctions in response to Russia’s further violation of Ukraine’s sovereignty.

Following the Prime Minister’s announcement to the House of Commons, Foreign Secretary Liz Truss yesterday designated the initial tranche of sanctions on Russia. The sanctions package targets oligarchs and banks associated with the Kremlin.

Foreign Secretary Liz Truss said: “This first wave of sanctions will hit oligarchs and banks close to the Kremlin. It sends a clear message that the UK will use our economic heft to inflict pain on Russia and degrade their strategic interests.

“And we are prepared to go much further if Russia does not pull back from the brink. We will curtail the ability of the Russian state and Russian companies to raise funds in our markets, prohibit a range of high tech exports, and further isolate Russian banks from the global economy.

“These will be surgically targeted sanctions that will hit Russia hard.”

Using new powers introduced on 10 February, the UK has frozen the assets and imposed travel bans on 3 leading members of the Russian elite of particular significance to the Kremlin: Gennady Timchenko, Russia’s sixth richest oligarch, and Boris and Igor Rotenberg, 2 long-standing associates of the regime.

Assets of 5 Russian banks involved in bankrolling the Russian occupation have also been frozen with immediate effect. This includes Bank Rossiya, which is particularly close to the Kremlin, Black Sea Bank for Development and Reconstruction, IS Bank and Genbank. The assets of Promsvyazbank, the pivotal bank in propping up Russia’s defence sector, have also been frozen.

The UK will also sanction those members of the Russian Duma and Federation Council who voted to recognise the independence of Donetsk and Luhansk in flagrant violation of Ukraine’s territorial sovereignty.

In addition, over the coming weeks we will extend the territorial sanctions imposed on Crimea to non-government controlled territory in the so-called breakaway republics of Donetsk and Luhansk. No UK individual or business will be able to deal with this territory until it is returned to Ukrainian control.

In the event of further aggressive acts by Russia against Ukraine, we have prepared an unprecedented package of further sanctions ready to go. These include a wide ranging set of measures targeting the Russian financial sector, and trade.

As part of this, should Russia not de-escalate the UK will shortly introduce legislation which will, amongst other steps, prevent Russia from issuing sovereign debt on UK markets. Working with partners we will effectively be isolating Russia from the global economy, and making it far more difficult for oligarchs and businesses to operate outside their own borders.

Find out more:

First Minister: ‘Deep concern’ over actions of Russia in Ukraine

Statement from the First Minister

Commenting on the situation in Ukraine, First Minister Nicola Sturgeon said: “I am deeply concerned by the actions of Russia and the disturbing reports of its invasion of Ukraine.

“The Scottish Government unreservedly condemns Russia’s actions, which are in flagrant violation of international law and which further destabilise an already volatile situation.

“The Scottish Government calls for an immediate cessation of such aggressive activities, with an assurance of the protection of all civilians within Ukraine.

“We offer our unqualified support for Ukrainian independence, sovereignty and territorial integrity and to the people of Ukraine.

“We stand with members of the International Community in opposing Russian aggression, in demanding the most severe sanctions on Russia and in seeking to deter a further and wider invasion of Ukraine.”