UK Unveils Major Sanctions Package Against Russia, Targeting Banks and Military Suppliers

The United Kingdom has announced what it describes as its most extensive package of sanctions against Russia since the early stages of the war in Ukraine, imposing measures on banks and companies across the globe that supply key components used by the Russian military. The sanctions, introduced to coincide with the third anniversary of Russia’s invasion of Ukraine, also extend to North Korea’s defence minister No Kwang Chol over the deployment of North Korean forces in Russia, as well as Kyrgyzstan-based Keremet Bank.

According to Britain’s Foreign Office, the latest sanctions specifically target producers and suppliers of machine tools, electronics, and dual-use goods, including microprocessors that are integrated into Russian weapons systems. These entities are located in multiple third countries, including Central Asian states, Turkey, Thailand, India, and China. Among those affected by the sanctions is OJSC Keremet Bank in Kyrgyzstan, with the UK government asserting that this move will help disrupt Russia’s “use of the international financial system to support its war efforts.”

Russia’s embassy in London swiftly condemned the new sanctions, calling them “illegitimate” and arguing that many of the individuals and entities included in the measures had no direct connection to the conflict. Similarly, China responded critically to the UK’s actions, with a spokesperson for the Chinese embassy stating that the sanctions “harmed the legitimate rights and interests of Chinese companies” and insisting that they had “no basis in international law.” The embassy further stated, “China firmly opposes this and has made solemn representations to the UK side,” in a message posted on its website.

Among the prominent Russian figures named in the sanctions package is billionaire businessman Roman Trotsenko. Additionally, the UK government has targeted 40 vessels it claims are being used to help Russia bypass existing sanctions by transporting its oil.

Commenting on the significance of the new measures, British Foreign Minister David Lammy stated, “Every military supply line disrupted, every rouble blocked, and every enabler of (Russian President Vladimir) Putin’s aggression exposed is a step towards a just and lasting peace.”

By fLEXI tEAM