- Oligarch Vladimir Potanin, Russia’s second richest man and foremost Kremlin supporter, sanctioned
- Anna Tsivileva, Putin’s first cousin and president of a significant Russian firm, was additionally sanctioned
- new measures guarantee oligarchs can not use UK belief providers
The UK authorities in the present day (Wednesday June 29) introduced new sanctions, hitting Putin’s internal circle.
Amongst these sanctioned is Vladimir Potanin, the second richest man in Russia and proprietor of the big conglomerate Interros. Potanin continues to build up wealth by supporting the Putin regime, buying Rosbank and taking shares in Tinkoff Financial institution since Russia invaded Ukraine.
Anna Tsivileva, Putin’s first cousin and chairman of the distinguished Russian coal mining firm, JSC Kolmar Group, was additionally sanctioned. Tsivileva’s husband, Sergey Tsivilev, is governor of the coal-rich area of Kemerovo and the couple have benefited significantly from their relationship with Putin. The JSC Kolmar group can also be sanctioned in the present day.
A authorities spokesperson mentioned:
So long as Putin continues his heinous assault on Ukraine, we are going to use sanctions to weaken the Russian warfare machine. Right this moment’s sanctions present that nothing and nobody is offside, together with Putin’s internal circle.
The UK authorities can also be sanctioning a gaggle of Russian people and corporations for his or her involvement within the repression of civilians and assist for the Assad regime in Syria, exposing Russia’s malign actions world wide.
The UK authorities can also be performing alongside worldwide allies to introduce new measures that can stop Russia from accessing UK belief providers. These providers, which permit one particular person or enterprise to handle the property of one other, are one other main a part of the UK’s world-class monetary providers sector that Russia will not be capable to use.
All through Putin’s warfare of selection, worldwide companions have stood with Ukraine and used sanctions to punish its heinous invasion, and governments and companies are turning their backs on Russia. The UK has sanctioned over 1,000 folks and over 100 firms since Putin’s invasion of Ukraine and three quarters of international firms have lowered their operations in Russia – of which nearly 1 / 4 have pulled out altogether .
Russian imports have fallen by greater than 40% because the invasion and shares of significant imported manufacturing elements are anticipated to expire over the subsequent 3-6 months.
Automotive manufacturing has additionally fallen by 60% and Russia’s personal transport minister has admitted that Russia’s logistics infrastructure is now “damaged” on account of the sanctions.
Background
Freeze of property
An asset freeze prevents any UK citizen or enterprise within the UK from coping with funds or financial assets which can be held, held or managed by the designated particular person. UK monetary sanctions apply to all individuals throughout the territory and territorial sea of the UK and to all British individuals wherever they’re on the planet. It additionally prevents funds or financial assets from being supplied to or for the good thing about the Designated Individual.
journey ban
A journey ban implies that the named particular person should be refused permission to enter or stay within the UK, supplied the particular person is an excluded particular person underneath part 8B of the Welfare Act 1971. ‘immigration.
Transport penalties
The lately launched powers make it a legal offense to fly or land any Russian plane and provides the federal government the ability to take away plane owned by designated Russian individuals and entities from the UK plane register, even when the particular person sanctioned shouldn’t be on board. Russian ships are additionally banned from British ports.
