The United Kingdom recently announced 50 new designations aimed at degrading Putin’s ability to wage war against Ukraine. The sanctions were announced while the Prime Minister was meeting with G7 Leaders in Italy as a demonstration of their collective support for Ukraine. These are reportedly the first sanctions issued in the United Kingdom that target Putin’s shadow fleet, vessels used by Russia to evade sanctions and continue in the trade of Russian oil. The new designees also include individuals and entities based in China, Israel, Kyrgyzstan and Türkiye that have allegedly helped Russia secure munitions, machine tools, microelectronics and logistics. In addition to the shadow fleet, UK authorities designated two vessels – the Lady R and the Angara – that have allegedly been used to ship weapons to Russia. The UK also targeted “institutions at the heart of Russia’s financial system,” including the Moscow Stock Exchange (“MOEX”) that was also sanctioned in the United States on June 12, 2024. In total, 48 of the 50 designations were imposed under the Russia (Sanctions) (EU Exit) Regulations 2019 (SI 2019/855), which subjects designated persons to travel bans and assets freezes in the United Kingdom.
UK authorities also designated two entities based in the Central African Republic (“CAR”) – Diamville and Wood International Group Sarlu – for their association with the Wagner Group in the CAR. These designations were imposed pursuant to the Central African Republic (Sanction) (EU Exit) Regulations 2020 (SI 2020/616), which subjects entities to an asset freeze.
In addition to the new designations, the UK demonstrated its steadfast support for Ukraine by committing to provide the country with £242 million in bilateral assistance in order to support it immediate humanitarian, energy and stabilization needs.
UK Government Press Release | OFSI Financial Sanctions Notice – Russia | OFSI Financial Sanctions Notice – CAR