U.K. Plans to Impose Further Russia Defense Sanctions This Week
U.K. Plans to Impose Further Russia Defense Sanctions This Week
(Bloomberg) -- The U.K. plans to slap fresh sanctions on Russia this week as it seeks to ratchet up the pressure on President Vladimir Putin’s administration in the wake of the invasion of Ukraine, a person familiar with the matter said.
The new measures are likely to target Russian military and defense companies, as well as more tycoons and their associates, according to the person, who spoke on condition of anonymity about plans that haven’t yet been publicized. The Foreign, Commonwealth and Development Office declined to comment in line with government policy not to discuss future sanctions.
Britain has already imposed its broadest set of sanctions ever on Russia since the invasion of Ukraine in February, and Prime Minister Boris Johnson’s government is working with other Group of Seven nations and the European Union to coordinate regular sets of new sanctions and trade restrictions, while enforcing measures implemented so far.
The sanctioned individuals and entities would join an existing list that includes Putin and his daughters, Chelsea Football Club owner Roman Abramovich and one of Russia’s largest defense firms, Rostec. The U.K.’s sanctions list for Russia -- which includes measures predating the invasion of Ukraine -- now covers more than 1,300 individuals, companies and banks.
Other defense industry companies already sanctioned by Britain include the battle tank manufacturer Uralvagonzavod, and Kronshtadt, which makes drones and other unmanned aerial vehicles.
The EU, for its part, is currently working on its sixth package of sanctions, with potential measures under discussion including restrictions on some oil imports and cutting more Russian banks from the SWIFT international financial messaging system.
Britain is also considering raising tariffs on a number of Russian goods, according to the person. Further measures to sanction people and entities spreading Russian disinformation are possible in the coming weeks, they said.
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