The United Kingdom has announced new sanctions restrictions against Russia aimed at making it more difficult for it to wage war against Ukraine. It has been reported on the British government’s website: New UK sanctions to crack down on Putin’s war machine.
The UK’s new sanctions restrictions against Russia affect 50 individuals and companies and are coordinated with the measures of other Group of Seven countries, holding a summit in Italy.
British Foreign Minister David Cameron explained how other partners can support Ukraine by hitting Russia’s profits.
“New targets include ships in Putin’s shadow fleet, institutions at the heart of Russia’s financial system and suppliers supporting Russia’s military production. Today’s action includes the UK’s first sanctions targeting vessels in Putin’s shadow fleet, used by Russia to circumvent UK and G7 sanctions and continue unfettered trade in Russian oil,” the communiqué says.
As reported, these are the UK’s first sanctions against Russia’s “shadow fleet,” used by the Kremlin to circumvent Western restrictions on the oil trade.
The sanctions also targeted suppliers of various components, machine tools, and microelectronics for the Russian military-industrial complex. Among them are companies registered in China, Israel, Kyrgyzstan, and Turkey, as well as ships that transport military goods from North Korea to Russia.
Among the financial institutions against which the sanctions are being imposed is the Moscow Stock Exchange, which was subject to US sanctions the day before.
On June 12, the United States announced a series of new sanctions against Russia, including against more than 100 Russian defense companies.
The communiqué notes that more than 2,000 individuals and legal entities from Russia have already been sanctioned by the United States, including 29 banks, which account for more than 90% of the Russian banking sector, and more than 130 oligarchs and their family members.
Over 20 billion pounds of trade between Russia and the UK before the full-scale war fell under sanctions. Imports from Russia to the UK dropped to almost zero, and imports from the UK to Russia fell by 73%.
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