New UK sanctions against Russia in the event of its possible “invasion of Ukraine” will target British investments of oligarchs and companies “associated with the Kremlin.” According to plans to be presented to members of the British parliament on Monday, January 31, the government will impose asset freezes and travel bans on individuals and legal entities that are of “strategic importance” to the Russian government.
As an unnamed source noted in an interview with The Times, the new sanctions “will hit Russia where it really hurts.” In turn, The Guardian explains, citing sources in the British Foreign Ministry, that the current rules allow sanctions to be imposed only against individuals and legal entities that are involved in the destabilization of Ukraine.
Thus, the new sanctions regime, if approved, will allow restrictions to be imposed against structures that are considered strategically important for the Russian Federation, even if they are not related to events in Ukraine.
Earlier, British Foreign Minister, Liz Truss, said that the British government will submit a bill to parliament that will make it possible, if necessary, the introduction of large-scale sanctions against Russia.
“We will submit a bill for consideration to be able to take measures, in particular, against structures that play a key role for the Kremlin and its future,” she said.
Truss added that those sanctioned will have to pay a high price “in the event of an invasion of Ukraine.”
“We will be ready to act against Russian financial structures, energy companies, and oligarchs close to the Kremlin,” she promised.