Her Majesty’s Government is making sure Putin feels the full cost of his actions, including implementing the most severe package of sanctions Russia has ever seen. We are also providing defensive support to Ukraine; £220 million in aid; and offering sanctuary to innocent Ukrainians.
Russia’s appalling assault in Ukraine is an unprovoked, premeditated attack against a sovereign, democratic state and the Government is relentlessly committed to supporting Ukraine through this dark hour. To this end the Government has:
- Instructed ports to block any vessels they believe are owned, controlled, chartered or operated by any person connected with Russia, or by sanctioned individuals. Vessels flying the Russian flag or registered in Russia are also to be blocked.
- The U.K. was one of the main drivers to ban several Russian banks from using SWIFT and is calling for a total SWIFT ban for Russia.
- The Government has also sanctioned five banks: Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank.
- Legislation to stop all major Russian companies from raising finance on U.K. markets, and also to prohibit the Russian state from raising sovereign debt on U.K. markets.
- Sanctions on more than 100 individuals, entities and their subsidiaries, including Rostec, Russia’s biggest defence company.
- Ban on all Russian airlines and private jets from flying in UK airspace or touching down - effective immediately.
- Immediate ban on all exports of goods that could have military use, such as electrical components and truck parts
- Legislation to prohibit a range of technology exports such as semiconductors and aircraft parts as well as goods for the extractive industries, such as oil refinery equipment.
- Imposing new restrictions to cut off wealthy Russians’ access to UK banks.
- All sanctions also apply to Belarus.
- Bringing forward measures from the Economic Crime Bill early which strengthen Unexplained Wealth Orders and broaden their scope, cracking down on corrupt elites in the UK
- Plans, in conjunction with our allies, to forbid any U.K. national from carrying out financial transactions involving the Central Bank of Russia, the Russian National Wealth Fund and Russia’s Ministry of Finance.
The UK has done more than any other European country to strengthen Ukraine’s defences, being the first to supply weapons to support the Ukrainian military directly, with thousands of anti-tank weapons amongst much else. These have proven to be highly effective against Russian armour. For the last seven years the Government has worked to support Ukraine's security and defence and has trained over 20,000 members of the Ukrainian Army.
Diplomatically, politically, economically – and eventually, militarily – this hideous and barbaric venture of Putin’s must end in failure.
