08 February 2023

Fresh sanctions on Russian businesses and elites announced by UK

08 February 2023

Several manufacturers, companies and top figures have been targeted by the UK in the latest round of sanctions to hit Russia since the invasion of Ukraine.

The sanctions come as Ukrainian President Volodymyr Zelensky visits the UK, meeting Prime Minister Rishi Sunak and addressing Parliament.

Foreign Secretary James Cleverly said that the new sanctions would “accelerate the economic pressure on (Vladimir) Putin”.

The sanctions target organisations and businesses that the Foreign Office said were relied upon by the Russian military to back the invasion of Ukraine, with several individuals also targeted.

Among those sanctioned include CST, a manufacturer of Russian drones, as well as RT-Komplekt, which produces parts for helicopters deployed in the conflict.

Oboronlogistics, which the Foreign Office said organises transport and delivery for Russian military equipment, was also hit with sanctions alongside Universalmash and Lipetsk, both linked to anti-aircraft missile infrastructure manufacturing.

Software company Topaz was also sanctioned.

“Ukraine has shown Putin that it will not break under his tyrannical invasion.

“He has responded by indiscriminately striking civilian areas and critical national infrastructure across the country,” Mr Cleverly said.

“We cannot let him succeed.

“We must increase our support.”

“These new sanctions accelerate the economic pressure on Putin, undermining his war machine to help Ukraine prevail.

“I am determined, consistent with our laws, that Russia will have no access to the assets we have frozen until it ends, once and for all, its threats to Ukraine’s territorial sovereignty and integrity.”

The group of individuals sanctioned, including presidential commissioner for entrepreneur’s rights Boris Titov and Aerostart owner Viktor Myachin, were connected to Mr Putin through “opaque financial networks”, according to the Foreign Office.

IT services company Moscoms LLC was also targeted.

Nikolay Egorov, until recently the deputy chairman of the largest privately owned oil refinery in Russia, as well as pro-Kremlin news outlet Regum owner Sergey Rudnov, were also sanctioned.

Svetlana Krivonogikh, a shareholder in Bank Rossiya and the National Media Group, has also been targeted alongside chairman of the board of Russian pharmaceutical company R-Pharm, Alexey Repik.

Evgeny Shkolov, a former presidential aide and deputy chairman of the board of directors for JSC System Operator of the Unified Energy System, and Pavel Titov, President of Delovaya Rossiya, an association that represents entrepreneurial interests and set up by his father Boris Titov, will also be hit with sanctions.

Over 1,300 individuals and entities have been sanctioned by the UK since the invasion of Ukraine, through a combination of asset freezes, travel bans and transport sanctions.

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