10th November, 2022
The British government announced on Thursday that it had frozen assets totaling 18 billion pounds ($20.5 billion) held by Russian oligarchs, individuals, and entities sanctioned for Moscow’s invasion of Ukraine.
According to the Office of Financial Sanctions Implementation, Russia has surpassed Libya and Iran to become Britain’s most sanctioned country.
The frozen Russian assets were worth 6 billion pounds more than the total reported under all other British sanctioned regimes.
“We have imposed the most severe sanctions ever on Russia, and it is crippling their war machine.
“Our message is clear: we will not allow Putin to succeed in this brutal war,” said Andrew Griffith, a junior government minister in the Treasury.
Britain has so far sanctioned more than 1,200 individuals and more than 120 entities in Russia, including targeting high-profile businessmen and companies linked to prominent politicians.
The British government began imposing travel bans, asset freezes, and other sanctions on Feb. 24, the day Moscow sent troops into Ukraine.