BusinessDay

Russia – Ukraine Conflict: UK sanctions 386 Russian lawmakers

The United Kingdom, through Foreign Secretary Liz Truss, has sanctioned 386 members of Russia’s Duma, the lower house of parliament, today for their support for the Ukrainian breakaway regions of Luhansk and Donetsk.

The new sanctions will prevent those on the list from visiting the UK, accessing assets held in the UK, or conducting business in the country.

In February, the Russian State Duma ratified treaties that recognized the independence of the Luhansk and Donetsk regions – both of which are part of Ukrainian sovereign territory – and authorized the permanent presence of Russian military forces there, laying the groundwork for Russia’s invasion.

Truss said in a statement that they are targeting those complicit in Putin’s illegal invasion of Ukraine and those who support this barbaric war.

“We will not let up the pressure and will continue to tighten the screw on the Russian economy through sanctions.

“Together with our allies, we stand firmly beside our Ukrainian friends,” she added. “We will continue to support Ukraine with humanitarian aid, defensive weapons, and diplomatic work to isolate Russia internationally.”

The designations announced today follow a crackdown on key oligarchs in Putin’s inner circle announced yesterday, as well as the introduction of new UK powers to detain Russian aircraft and prohibit the export of aviation equipment.

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Since Russia’s invasion, the UK has sanctioned over 500 of Russia’s most important and high-value individuals, entities, and subsidiaries, bringing the total number of individuals, entities, and subsidiaries covered by the UK sanctions list to over 800.

Travel bans and asset freezes have been imposed on 18 of Russia’s wealthiest oligarchs, with a combined fortune of more than £30 billion.

On Thursday, the UK announced that Chelsea owner Roman Abramovich, industrialist Oleg Deripaska, and Rosneft CEO Igor Sechin had been sanctioned.

Adding Andrey Kostin, the Chairman of VTB Bank; Alexei Miller, the CEO of Gazprom; Nikolai Tokarev, the President of Transneft, the Russian state-owned pipeline company; and Dmitri Lebedev, the Chairman of the Board of Directors of Bank Rossiya, to the list.

In addition, the Government has said that the amendments to the Economic Crime (Transparency and Enforcement) Bill will aim to crack down on corrupt elites and ramp up pressure on Putin’s regime.