UK sanctions target Russia’s theft of Ukrainian grain, advanced military technology, and remaining revenue sources
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UK sanctions 86 individuals and entities – freezing the assets of
those involved with key revenue streams Package
includes companies connected to theft of Ukrainian grain, and those
involved in shipment of Russian energy. Companies
connected to Rosatom’s support of Putin’s military efforts also
sanctioned Foreign Secretary confirms that Russia’s sovereign
assets will remain immobilised until Russia agrees to pay for the
damage...Request free trial
The UK has today (Friday 19 May) announced a new wave of sanctions against Russia, targeting businesses and individuals connected to Russia’s capacity to fund and wage the war. The 86 designations target individuals and organisations connected to Russia’s energy, metals, defence, transport, and financial sectors - ramping up pressure on Putin’s remaining revenue and attempts to use these sectors to support the military machine. The designations come after the Prime Minister Rishi Sunak announced new import bans on Russian diamonds and metals at the G7 in Japan earlier today. This includes a crackdown on the shady individuals and entities connected to the theft and resale of Ukrainian grain, as well as targeting Russia’s major energy and arms shipping companies. Companies connected to Rosatom, which are producing advanced materials and technology, including lasers, have also been sanctioned. The Foreign Secretary has also announced, consistent with our laws, that Russia’s sovereign assets in our jurisdictions will remain immobilised until Russia agrees to pay for the damage it has caused to Ukraine. These new sanctions come as the Prime Minister meets his counterparts at the G7 Summit in Japan and holds talks on long-term support for Ukraine’s defence and joint action on Russia’s malign activity. Through a combination of these designations and new import bans on Russian diamonds and metals, the UK is working with international partners to further constrain Russia’s capacity to wage its illegal war, increasing economic pressure, and tackling all emerging forms of circumvention until Ukraine prevails. Foreign Secretary James Cleverly said: “Putin and his supporters must – and will - pay the price for their illegal invasion of Ukraine. “That’s why through today’s new sanctions we are increasing the economic pressure on Putin– making it harder for him to wage his illegal war and inflict untold suffering on innocent Ukrainians. “We will continue to increase this pressure and crack down on all emerging forms of circumvention until Ukraine prevails and peace is secured. Our support for Ukraine is, and will remain, resolute for as long as it takes.” ENERGY The UK is taking new action against Russia’s energy sector – building on the import bans of Russian coal, oil, and LNG - by introducing designations of 9 organisations connected to Russia's state-owned nuclear energy company, Rosatom, which has been connected to Putin’s war effort. This includes UMATEX, which produces composite materials based on carbon fibre for Rosatom that could be used for military purposes, and TRINITI whose research and development into laser physics is directly funded by the Russian Federation’s State Defence Order. TRINITI’s lasers have been installed on tank chassis with the aim of dazzling the optics of aircraft and disrupting precision weapons. Oleg Romanenko, a lead official at the Zaporizhzhia Nuclear Power Plant who has been colluding with the Russian government, the Operating Organisation of Zaporizhzhia Nuclear Power Plant, 13 members of the Gazprom-Neft board of directors, and 5 members of the Transneft board of directors have also been designated. METALS Igor Altushkin, the billionaire oligarch who owns the Russian Copper Company, has been sanctioned. As the third largest producer of copper in Russia, Altushkin and his business have continued to play a key role in a sector of strategic significance for Putin’s military machine. 8 other companies connected to metals production in Russia have also been sanctioned, and the UK has announced that we will also ban imports of Russian metals including aluminium, nickel, and copper. Together, these actions increase pressure on Russia’s metal industry, which remains an important revenue stream funding the Kremlin’s war machine, and they have wider impact on the operation of other sectors such as transport and energy. TRANSPORT 24 Individuals and entities connected to Russia’s transport services, have also been sanctioned. This includes Pawell Shipping Co LLP, the State Grain Corporation (GZO) and their director Nikita Busel who are connected to the systematic theft of Ukrainian grain. This grain, and other agricultural goods, has been reportedly stolen from warehouses and fields in the temporarily occupied territories in Ukraine and shipped out from Zaporizhzhia – badged as Russian goods. Six major Russian shipping companies which have enabled and supported Putin’s wartime economy have also been sanctioned. This includes Sun Ship Management, an entity connected to Sovcomflot, Russia’s largest state-owned shipping company, supporting Russia to circumvent or undermine the effects of Western sanctions. MILITARY 20 defence executives and companies have been sanctioned as part of today’s tranche – further targeting the individuals and organisations that are supporting Russia’s continued military activity in Russia by equipping both the Russian armed forces and Wagner group. Amongst those sanctioned are:
BANKS Five financial institutions have also been sanctioned as part of today’s package of designations – further isolating Russia from the global financial system and undermining Putin’s military capability. This includes JSC Dom RF, which acts under the instruction of the Russian government, and Metallurgical Investment Bank, which is supporting Russia’s industrial exports. ENDS NOTES TO EDITORS:
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