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The UK Foreign Secretary imposed new sanctions on the Russian military and Kremlin elites on Wednesday, February 8th, 2023. The sanctions package includes 6 entities that provide military equipment for Russia’s invasion of Ukraine, 8 individuals and 1 entity connected to illegal financial networks that support the wealth and power of the Kremlin elites.
The announcement of the sanctions came as Ukrainian President Zelenskyy visited the UK to meet with Prime Minister and Ukrainian troops. The leaders discussed a two-pronged approach to UK support for Ukraine, including an immediate increase in military equipment to help counter Russia’s spring offensive and long-term support.
In a statement, Foreign Secretary James said that the new sanctions aim to increase economic pressure on Russian President Putin and undermine his war machine to support Ukraine. He emphasized his determination to ensure that Russia will not have access to the frozen assets until it ends its threat to Ukraine’s territorial sovereignty and integrity.
The sanctions target organizations that Putin’s military relies on to continue its illegal invasion of Ukraine, including CST, a drone manufacturer, RT-Komplekt, a helicopter parts producer, Oboronlogistics, a military equipment transporter, Universalmash, and Lipetsk, a tracked chassis manufacturer, and Topaz, a software company involved in military aviation.
The United Kingdom, along with its international partners, has implemented several designations aimed at undermining the Russian military complex. These designations, along with the unprecedented trade measures, have caused shortages in critical components needed for Russia’s military activities, particularly in Ukraine, and have hindered the military capabilities of Russia for years to come.
The sanctions have also targeted individuals connected to Russian President Vladimir Putin through opaque financial networks. These individuals, who owe their positions of power to Putin, have access to state-owned industries and enjoy personal riches. One of the companies sanctioned is IT services company Moscoms LLC, which acts as a nexus for the Russian elite and provides host domains to individuals involved in destabilizing Ukraine. The company is connected to 86 companies worth a total of £3.7 billion within Putin’s network, including LLCinvest.ru.
The sanctions also include 5 individuals connected to Putin’s luxury residences, including the 100 billion roubles ‘Putin’s palace’ and Putin’s lakeside Dacha. These individuals include Boris Titov, Presidential Commissioner for Entrepreneur’s Rights, Nikolay Egorov, former Deputy Chairman of the largest privately-owned oil refinery in Russia, Sergey Rudnov, owner of pro-Kremlin news outlet Regum, Svetlana Krivonogikh, a shareholder in Bank Rossiya and the National Media Group, and Viktor Myachin, owner of Aerostart, a Russian aircraft maintenance and repair company.
The UK has sanctioned over 1,300 individuals and entities since Putin’s invasion, with trade in goods now under full or partial sanctions. Exports of machinery and transport equipment have decreased by 98%, causing Russia to scavenge sub-par semiconductors from household appliances to build military equipment.
Despite these measures, the UK, along with its international partners, will continue to stand with Ukraine and provide £2.3 billion in military aid and £1.5 billion in economic and humanitarian support until peace is secured.
Source: Gov[dot]UK
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