Sanctions against Russia
24 Commons Library Research Briefing, 22 March 2023
services has also been announced in response to Russia's annexation of four
occupied regions in Ukraine at the beginning of October 2022.
In February 2023 the Government confirmed that all trade and financial
sanctions measures in place against Crimea, and non-government controlled
territory in Donetsk and Luhansk, would also be extended to the Russian
controlled areas of Kherson and Zaporizhzhia Oblasts.
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Exports
On 9 March the Government announced additional measures related to the
aviation sector that are enacted by the Russia (Sanctions) (EU exit)
(Amendment) (No.6) Regulations 2022. Under that legislation, a ban has been
placed on the export of aviation and space-related goods and technology,
including technical assistance. UK companies are also prohibited from
providing insurance and re-insurance services in relation to these goods and
technology.
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On 24 March further sanctions against strategic industries "supporting
Russia's illegal invasion" were announced. Defence company Kronshtadt, the
main manufacturer of Russian drones, Russian railways and Sovcomflot,
Russia's largest shipping company and a world leader in the transportation of
hydrocarbons, are among those companies targeted.
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The CEO of Russian
Railways, Oleg Belozyorov, was subsequently sanctioned on 21 April 2022.
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On 5 May, Russian steel manufacturer, Evraz, was sanctioned. The company
produces 28% of railway wheels and 97% of all Russian rail track and is
therefore considered as operating in a sector of strategic significance.
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Export bans on key materials that support Russia's manufacturing and heavy
machinery sectors, including chemicals, plastics, rubber, and machinery were
also announced on 9 May.
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Restrictions on the export of defence and security goods and maritime goods
and technology were enacted in July 2022 through the Russia (Sanctions) (EU
Exit) (Amendment) (No.11) Regulations 2022. That Statutory Instrument also
expands existing restrictions relating to Russian iron and steel products.
These include new prohibitions on the provision of technical assistance,
financial services and funds, and the brokering of services that enable both
the supply of iron and steel products from Russia to a third country and the
acquisition of such products originating from, or located in, Russia.
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Foreign, Commonwealth and Development Office, Press release, 24 February 2023
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Foreign, Commonwealth and Development Office, Press release, 9 March 2022
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Foreign, Commonwealth and Development Office, Press release, 24 March 2022 and OFSI, Financial
Sanctions Notice, 24 March 2022.
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HM Treasury, Financial Sanctions Notice, 21 April 2022
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HM Treasury, Financial Sanctions Notice, 5 May 2022 and Foreign, Commonwealth and Development
Office, Press release, 5 May 2022
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Department for International Trade, Press release, 9 May 2022
As of March 2023,
UK exports to Russia
have decreased by
80%.
HM Government,
Integrated Review
Refresh (PDF), March
2023
