UK sanctions on Russia top £18 billion for the first time

Data has been released which reveals the full effect of UK sanctions on Russia – with £18.39 billion of Russian assets frozen and reported to the Office of Financial Sanctions Implementation (OFSI).

The figure, released for the first time in OFSI’s Annual Review, demonstrates the key role the UK has played in standing up to Russia following their illegal invasion of Ukraine. It is nearly £6 billion pounds more than reported across all other UK sanctions regimes.

In conjunction with its allies, the UK has imposed the most severe sanctions Russia has ever faced, designating more than 1,200 individuals and 120 entities, and freezing the assets of 19 Russian banks with global assets of £940 billion since they began their illegal invasion. See: UK sanctions on Russia top £18 billion for the first time - GOV.UK (www.gov.uk)