More than 1,000 Russian oligarchs and entities have been sanctioned since Vladimir Putin launched the invasion of Ukraine a month ago.
The UK has imposed sanctions on 65 more Russian people and businesses aimed at cutting off “vital industries fuelling Putin’s war machine”, the foreign secretary said.
Liz Truss announced the fresh sanctions, which include the Wagner Group of Russian mercenaries – believed to be tasked with assassinating Ukraine President Volodymyr Zelenskyy – and Alfa Bank, Russia’s largest private bank.
Some of the individuals sanctioned include Polina Kovaleva, Russian foreign minister Sergei Lavrov’s stepdaughter, billionaire oil tycoon Eugene Shvidler (with close business links to Roman Abramovich) and Herman Gref, the CEO of Russia’s largest bank Sberbank and close adviser to Vladimir Putin since the 1990s.
The foreign secretary said defence companies and Russian railways have also been targeted in the latest round of sanctions imposed by the UK.
First individual sanctioned for acts during Ukraine war
Galina Danilchenko, who was installed by Russia as the mayor of Melitopol in Ukraine after the actual mayor was kidnapped, has also been sanctioned.
He is the first individual the UK has sanctioned for collaboration with Russian forces currently in Ukraine.
The UK has now sanctioned more than 1,000 Russian people and businesses in the four weeks since Russia invaded Ukraine.
£500 billion worth of global assets held by Russian banks have now been sanctioned since the invasion began on 24 February, the Foreign Office said.
It added that the net worth of the oligarchs and families members who have been sanctioned is more than £150bn.
Ms Truss said: “These oligarchs, businesses and hired thugs are complicit in the murder of innocent civilians and it is right that they pay the price.
“Putin should be under no illusions – we are united with our allies and will keep tightening the screw on the Russian economy to help ensure he fails in Ukraine. There will be no let-up.”
Oligarchs and companies sanctioned in the latest round also include:
- Alrosa – the world’s largest diamond mining company, headquartered in Mirny, Russia with a market value of an estimated £4.69bn
- Oleg Tinkov – founder of the world’s largest digital bank, Tinkoff Bank. He has a reported net worth of about £3.4bn
- Oleg E Aksyutin – deputy chairman of the management board at Russian energy company Gazprom
- Didier Casimiro – first vice president of Russian state oil company Rosneft
- Zeljko Runje – deputy chairman of the management board at Rosneft.
Boris Johnson, in Brussels for summits with the US, the EU and the G7 over Ukraine, said: “We’ve got to step up, we’ve got to increase our support, we’ve got to tighten the economic vice around Putin, sanctioning more people today as we are, sanctioning the Wagner Group, looking at what we can do to stop Putin using his gold reserves, and also doing more to help the Ukrainians defend themselves.”
Last Tuesday, the UK sanctioned 370 more Russian and Belarusian individuals and entities after the Economic Crime Bill was given royal assent the day before, which allowed the government to sanction individuals more easily.
Mikhail Fridman, a founder of Alfa Bank, and Petr Aven, the head of Alfa Bank until this month, were both sanctioned then – ahead of the entire bank having sanctions placed on it in the latest round.