Britain has imposed a fresh package of sanctions targeting Russian financial networks, oil revenues and the supply chains supporting Moscow’s military.
The measures were announced by the Foreign, Commonwealth and Development Office on Thursday 8 October.
38 new targets added
The official sanctions register records 26 new designations of individuals and entities, alongside 12 ship specifications and two variations to existing entries.
That means 38 new targets have been added. The two variations are changes to existing designations, rather than additional new targets.
The measures form a separate package from the sanctions announced on 1 October, when the register recorded 23 new designations and eight ship specifications.
Oil companies and tankers targeted
The latest package includes Russian oil companies Zarubezhneft and INK Capital, alongside a further 12 tankers described by the Government as part of Russia’s shadow fleet.
The Foreign Office says the new oil-company measures bring the share of Russian oil-production capacity covered by UK sanctions to more than 90%.
It also says the total number of sanctioned shadow fleet tankers now exceeds 600.
Financial networks face restrictions
The package targets crypto exchanges and payment platforms which the Government suspects are helping Russia circumvent financial sanctions.
The published notice lists commercial bank Stolichny Kredit, JSC Planeta, Xeltox Enterprises and OJSC Processing KG among the newly designated entities.
Restrictions listed for those entries include asset freezes, trust-services restrictions, director-disqualification sanctions and prohibitions on correspondent banking relationships and processing payments.
Some entries also carry internet-services restrictions. The applicable measures differ by target and are set out individually in the sanctions notice.
The notice records the Government’s stated grounds for designation. These sanctions decisions are distinct from criminal convictions.
Military supply chains
The Foreign Office says the package also targets suppliers of machine tools, electronics and materials supporting Russia’s missile and drone capabilities.
The Government presents the measures as an effort to constrain financing and equipment for Russia’s war against Ukraine. Their economic impact remains to be assessed.