Against the backdrop of the Russian military operation in Ukraine, Britain announced a freeze on assets worth more than 18 billion pounds ($ 20.5 billion) owned by Russian businessmen, so-called “oligarchs” and other individuals and companies.
The Financial Sanctions Bureau, affiliated with the Ministry of Finance, said in its annual report that Russia has preceded Libya and Iran and has become the country most exposed to Britain’s sanctions.
The frozen Russian assets are 6 billion pounds in more than the declared amount in all other UK sanctions programs.
Frozen assets are a combination of holdings in company and cash in bank accounts. It does not include tangible assets such as real estate or assets in the Crown Territories such as Guernsey and Jersey.
“We have imposed the toughest sanctions ever on Russia and (which) destroyed its war machine,” he said. in a note Andrew Griffiths, Secretary of State in the Department of the Treasury.
“Our message is clear: we will not allow Putin to succeed in his brutal war,” he added.
Sanctions on more than 1,200 people
Russian billionaire Roman Abramovich and businessman Mikhail Fridman were among those sanctioned questyear, together with President Vladimir Putin, his family and his military commanders.
Britain has so far imposed sanctions on more than 1,200 people, including prominent businessmen and politicians, and more than 120 entities in Russia.
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