Wednesday, December 7, 2022

Ukraine Invasion: Russia becomes most sanctioned nation as UK freezes assets worth £18 billion

Russia has passed Libya and Iran to become Britain’s most-sanctioned nation.

• November 10, 2022
Office of Financial Sanctions Implementation building used to illustrate the story

The British government said on Thursday that it had frozen assets together worth £18 billion ($20.5 billion) held by Russian oligarchs, other individuals, and entities sanctioned for Moscow’s invasion of Ukraine.

Russia has passed Libya and Iran to become Britain’s most-sanctioned nation, according to the Office of Financial Sanctions Implementation, part of the finance ministry.

The frozen Russian assets were 6 billion pounds more than the amount reported across all other British sanctions regimes.

“We have imposed the most severe sanctions ever on Russia and it is crippling their war machine.

“Our message is clear: we will not allow Putin to succeed in this brutal war,” said Andrew Griffith, a junior government minister in the Treasury.

Britain has so far sanctioned more than 1,200 individuals and more than 120 entities in Russia, including targeting high-profile businessmen and companies to prominent politicians.

The government began imposing travel bans, asset freezes, and other sanctions on February 24, the day Moscow sent troops into Ukraine. 

(Reuters/NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

President Muhammadu Buhari

Politics

Kolmani Oil: Gombe leaders pay ‘thank you’ visit to Buhari

The leaders promised the president to ensure the success of the Kolmani project.

Buhari

Africa

Buhari to receive Guinea Bissau’s highest honour on Wednesday

The award is in recognition of the Nigerian president’s contributions to the political stability of Guinea Bissau.

A composite of Former Lagos State governor Bola Tinubu and Alpha Beta

Heading 3

In new story, Tinubu claims he made his wealth from inheritance

The presidential candidate has continued to render conflicting narratives about the source of his stupendous wealth.

Portugal's Goncalo Ramos celebrates goal against Switzerland

Sport

Qatar 2022: Gonçalo Ramos nets treble as Portugal wallop Switzerland to reach quarterfinals

Gonçalo Ramos stole the show to score a hattrick in what was his first senior national team start for Portugal.

Kaduna State Commissioner for Internal Security and Home Affairs, Samuel Aruwan

States

Troops neutralised “many bandits” in Kaduna: Commissioner

Several other bandits were said to have fled the onslaught with gunshot injuries.

Atiku Abubakar with Ooni of Ife, Oba Adeyeye Ogunwusi

Politics

2023: Atiku pledges restructuring during visit to Ooni’s palace

Mr Abubakar said he’ll ensure that the National Assembly amend the constitution and give power to states, LGAs and traditional rulers.