Britain imposes new sanctions against Russia on second anniversary of invasion of Ukraine
British Foreign Secretary David Cameron (Getty Images)
Britain has announced the imposition of over 50 new sanctions against individuals and entities supporting the illegal war of Russian dictator Vladimir Putin in Ukraine, according to British Foreign Minister David Cameron.
The sanctions are aimed at those supplying his depleted arsenal with ammunition such as missile launch systems, missiles, and explosives.
The new sanctions also target key sources of Russia's income, restricting trade in metals, diamonds, and energy resources, and cutting off funding for Putin's illegal war from all sides.
"Today’s measures will disrupt Putin’s ability to equip his now struggling military with high tech equipment and much needed weaponry, as well as blocking him from refilling his war coffers- while Ukraine defends itself. This round of designations serves as a clear signal that two years on, the UK stands united with our allies in unwavering support for Ukraine," the minister said.
Today’s package forms part of wider UK action to restrict Putin’s war revenue streams and clamp down on his repeated attempts to evade western sanctions.
The following companies are now under sanctions:
- Companies linked to manufacturing munitions such as rocket launch systems, missiles, explosives and other critical goods used in military equipment. This includes Sverdlov State Owned Enterprise, the largest enterprise in the Russian ammunition industry.
- Key Russian importers and manufacturers of machine tools, which are instrumental in manufacturing vital defence systems and components ranging from missiles and engines to tanks and fighter jets.
- Oil trader Niels Troost and his company Paramount Energy & Commodities SA. Troost facilitates the unfettered trade of Russian oil outside the reach of UK and G7 sanctions, including through UAE-based Paramount Energy & Commodities DMCC, which the UK designated in November 2023.
- Fractal Marine DMCC, Beks Ship Management, and Active Shipping, which operate in the Russian energy sector as part of Putin’s shadow fleet.
- Two Russian diamond companies and Pavel Alekseevich Marinychev, the new CEO of Alrosa, the largest state-owned Russian diamond producer, estimated to hold a 30% share in the global diamond market.
- Five senior executives or owners of Russia’s top producers of copper, zinc and steel.
Britain's sanctions against Russia
Recently, Britain announced the establishment of a new unit to combat companies evading sanctions against Russia.
Additionally, Britain, together with the United States, has imposed sanctions on Russians associated with the Russian Federal Security Service (FSB).
Furthermore, the British government has introduced legislation providing for further sanctions on goods and technologies aiding Russia in financing the war against Ukraine.
