Britain unveils largest sanctions package against Russia since war began

The UK government on Monday, February 24, announced the most extensive package of sanctions against Russia since the start of its full-scale invasion of Ukraine three years ago.

This is stated in a government press release.

"Today's sanctions, the largest in three years (of full-scale war), underline the UK's commitment to Ukraine. Every military supply chain interrupted, every rouble blocked, and every accomplice of Putin's aggression exposed is a step towards a just and lasting peace and, security and prosperity in the UK. Lasting peace can only be achieved through strength. That is why we are focused on putting Ukraine in the strongest possible position. Today, as the world marks the grim milestone of Putin's full-scale invasion, now in its fourth year, we cannot and will not turn our backs on Ukraine, which is fighting for our shared security," British Foreign Secretary David Lammy said.

107 individuals and entities have been added to the sanctions list. They manufacture and supply machine tools, electronics, and dual-use goods to the Russian military, including microprocessors in weapons systems. These companies are based in several third countries, including Central Asian countries, Türkiye, Thailand, India, and China, the largest supplier of essential goods to the Russian military.

The sanctions also target North Korean Defense Minister Noh Kwan Chol, along with other high-ranking North Korean generals and officials involved in deploying over 11,000 North Korean troops to Russia.

The government also imposed sanctions on 13 Russian individuals and entities, including Grant-Trade LLC, its owner, Marat Mustafayev, and his sister, Dinara Mustafayeva. They used the company to supply advanced European technology to Russia to support its illegal war against Ukraine.

This is the first time the UK has imposed sanctions on a foreign financial institution that supports the Russian war machine.

"We are imposing sanctions on Keremet Bank of Kyrgyzstan, preventing Russia from using the international financial system to support its military effort," the British government said.

The UK has also added 40 more vessels from the Russian shadow fleet, which transport Russian oil, to the sanctions list. These vessels have transported over $5 billion worth of Russian oil and petroleum products in the past six months alone.

In total, Britain has imposed sanctions on 133 such tankers – the most of any European country.

In addition, London has implemented restrictive measures against 14 "new kleptocrats," some of whom are linked to key sectors of the Russian economy. Among those targeted is Roman Trotsenko, one of Russia's wealthiest individuals, with a fortune estimated at £2.2 billion.

For reference:

 Australia has imposed the most extensive sanctions against Russia since February 2022. Restrictions for the Russian Federation have also been introduced in New Zealand.

On February 23, the United Kingdom introduced the most extensive package of sanctions against the Russian Federation: measures to strengthen support for Kyiv in the fight against Russian aggression.

On December 16, 2024, the EU approved a new, already 15th, package of sanctions to counter Russian aggression against Ukraine. It included high-ranking officials of the DPRK, companies from the Russian "shadow fleet," and Chinese suppliers to the Russian Federation.

For the first time, the European Union has implemented "full" sanctions against several Chinese suppliers who provide components for Russian drones. These measures include travel bans, asset freezes, and prohibitions on accessing economic resources.

Also, 52 more vessels from third countries were added to the list of tankers banned from accessing EU ports, bringing the total number to 79.

US leader Donald Trump is ready to double sanctions against the Russian Federation to end the war in Ukraine. The Trump administration does not rule out tightening sanctions against the Russian energy sector.

Also, earlier, the United States Treasury Department, in coordination with the United Kingdom, imposed sanctions on the income that the Russian Federation receives from the export of aluminum, copper, and nickel.