UK has sanctioned 16 times fewer Putin-linked individuals and entities than EU

Even after the Government's announcement on Thursday of sanctions on seven Russian oligarchs, including Roman Abramovich, new analysis reveals the UK has so far announced just 41 Putin-linked individuals or entities for targeted sanctions.

Meanwhile, the EU has named over 660 and the US has named over 240.

To close the sanctions gap with the EU and the US, Labour is calling on Conservative ministers to urgently:

• Increase the number of Putin-linked individuals and entities sanctioned;
• Apply sanctions to wealth held under the name of family members of sanctioned individuals;
• Extend financial sanctions - including SWIFT - to Belarussian banks;
• Sanction the 351 members of the State Duma who voted in favour of Russia's recognition of the self-proclaimed people's republics of Donetsk and Luhansk, in eastern Ukraine;
• Impose limits on Russians depositing money into UK bank accounts.

Labour's call for further action on sanctions comes as David Lammy travelled on Thursday to Finland to meet with the Finnish Minister for Foreign Affairs, Pekka Haavisto, and to Sweden to meet with the Swedish Minister for Foreign Affairs, Ann Linde, with whom he discussed further sanctions European countries could take against the Russian regime.

David Lammy MP, Labour's Shadow Foreign Secretary, said:

"Vladimir Putin's illegal invasion of Ukraine is a monstrous act that must lead to the complete removal of the Russian regime from our economic system.

"There is no excuse for the UK continuing to lag far behind our EU and US allies on the number of Putin-linked individuals and entities facing sanctions.

"The Government must end the delay and urgently close the sanctions gap."

Ends

Note to editors:

• New analysis by Redress, the human rights organisation, shows:
• • In response to the Ukraine crisis, the UK has named 41 individuals or entities for targeted sanctions (ie, asset freezes and/or travel bans).
  • The EU has named over 660 individuals or entities for targeted sanctions, and the US has named over 240.
  • Of the “Navalny 35” list compiled by the Anti Corruption Foundation, the UK has sanctioned 14 of the individuals named. The EU has sanctioned 19 and the US has sanctioned 15. (NB: Some of these individuals were sanctioned prior to the Ukraine crisis)