UK launches new Russia sanctions to mark Ukraine invasion anniversary

By Thomson Reuters Feb 22, 2024 | 6:53 AM

LONDON (Reuters) -Britain announced a new package of sanctions against Russia on Thursday, saying it was seeking to diminish President Vladimir Putin’s weapons arsenal and war chest two years on from the invasion of Ukraine.

The package of measures, covering more than 50 individuals and entities, was announced days ahead of the anniversary and is the latest part of a coordinated Western effort to restrict the Russian economy.

“Our international economic pressure means Russia cannot afford this illegal invasion. Our sanctions are starving Putin of the resources he desperately needs to fund his struggling war,” Foreign Secretary David Cameron said in a statement.

Britain sanctioned companies linked to the Russian ammunition industry, including the largest enterprise Sverdlov State Owned Enterprise, and targeted sources of revenue in the metals, diamonds and energy industries.

The foreign office also said those included in the sanctions were key Russian importers and manufacturers of machine tools that are used to manufacture defence systems and components ranging from missiles and engines to tanks and fighter jets.

The European Union on Wednesday approved a package of sweeping sanctions, banning nearly 200 entities and individuals accused of helping Moscow procure weapons or of involvement in kidnapping Ukrainian children.

Earlier this week, Britain also sanctioned six individuals in charge of the Arctic penal colony where Russian opposition leader Alexei Navalny died.

(Reporting by Muvija M and William James, writing by Farouq Suleiman, Editing by Kylie MacLellan)