Sanctions against Russia
15 Commons Library Research Briefing, 22 March 2023
On 2 March 2022 the Prime Minister committed to "publish a full list of all
those associated with the Putin regime", although he did not provide a
timeframe for doing so.
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The Government also announced that sanctions will be issued against Belarus
for its role in enabling Russian military action in Ukraine (see secondary
sanctions below).
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The latest sanctions notices related to Russia, and the current list of
designated persons are available at: Financial sanctions, Russia - GOV.UK
(www.gov.uk).
3.3 A rolling programme of sanctions
Announcing the second tranche of sanctions, the then Prime Minister said on
24 February there will be "a rolling programme of intensifying sanctions",
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indicating the Government could, and would go a lot further, in coordination
with allies.
Further strategic sectors of the Russian economy and major Russian state-
owned companies were expected to be targeted in future tranches. More
Russian financial institutions expelled from the SWIFT system and more
members of the Russian elite, and their families, made subject to asset
freezes and travel bans.
On the sanctioning of further individuals, then Foreign Secretary, Liz Truss,
said:
We have a hit list of oligarchs and Duma members – those key personnel we
are talking about. We will be announcing those as we build the evidence and
case against them, but we need those cases to be legally watertight – that is
what is important – so that when we hit them, the hit sticks.
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Calls for broader measures
MPs also called for the Government to go beyond sanctions
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and bring
forward initiatives and proposed legislation on countering foreign influence in
the UK, particularly Russian wealth in London.
The Government subsequently brought forward its Economic Crime
(Transparency and Enforcement) Bill on 1 March 2022 and fast-tracked it
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HC Deb 2 March 2022, c1033
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Approximately 30,000 Russian troops equipped with sophisticated military assets deployed to
Belarus in early February under the guise of joint exercises. Those forces have since crossed the
border from Belarus into Ukraine.
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HC Deb 24 February 2022, c576
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HC Deb 28 February 2022, Sanctions c720
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HC Deb 22 February 2022, Sanctions
"Sanctions were put
on by the G7 in
unison, and they
should not be
removed as long as
Putin continues with
his war and still has
troops in Ukraine".
Former Foreign
Secretary, Liz Truss, 28
March 2022
