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The UK government announced more than 300 additional sanctions against Russia and Belarus for Moscow’s invasion of Ukraine on Tuesday, bringing the number of sanctions against individuals and other entities to over 1,000.
The government imposed the sanctions after the approval of the Economic Crime Law (transparency and enforcement) which allows the government to quickly pass sanctions.
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The new sanctions affect 370 people, 30 of whom are oligarchs or their family members in the amount of more than $ 130 billion, the Foreign Office said in a statement. Foreign Minister Liz Truss said the announcement shows the UK is going “further and faster” to target those connected to Russian President Vladimir Putin.
“By working closely with our allies, we will continue to increase pressure on Putin and cut funding for the Russian war machine,” he said.
The sanctions add to the fact that the UK targets Russian defense, trade and transport companies.
The sanctions included freezing of assets and travel bans and included the founder of Alfa Bank, Russia’s largest private bank, as well as owners of airports and steel companies. On the political front, former Russian President Dmitry Medvedev, Russian Prime Minister Mikhail Mishustin and Defense Minister Sergei Shoigu are struck by the new sanctions.
The UK has also designated Putin’s press secretary and foreign ministry information director. Separately it announced an additional 35% import duties on Russian and Belarusian products ranging from vodka and white fish to iron, oilseeds and wheat.
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The measures “will further isolate the Russian economy from global trade, ensuring that it does not take advantage of the rules-based international system it does not abide by,” said Chancellor of the Exchequer Rishi Sunak.
The EU has meanwhile imposed sanctions on luxury goods including purebred horses, champagne, pearls and diamonds as part of its attempt to target oligarchs, which have become a key target for sanctions against Russia for the invasion of Ukraine. Sanctions have remained far from the energy sectors.
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The EU has also targeted more than a dozen extra entities and individuals, including Chelsea FC owner Roman Abramovich, who has been hit by both the asset freeze and the travel ban. Abramovich had already been sanctioned by the UK
The Official Journal of the EU stated that Abramovich “had privileged access to [Putin], and has maintained excellent relations with him. This bond with the Russian leader helped him maintain his considerable wealth. “
Rich Edson of Fox News and The Associated Press contributed to this report.