Tuesday, March 01, 2022

Sanctions on Russian banks

The UK government has also announced new sanctions on the Central Bank of the Russian Federation, while cracking down on money laundering by foreign oligarchs supporting Putin’s campaign of destruction.

  • Britain is going faster and harder to impose tough economic sanctions and tear back the façade that those supporting Putin's campaign of destruction have been hiding behind for so long.
  • That is why the UK is imposing sanctions in coordination with our US and European allies on the Central Bank of the Russian Federation, cutting Russia off from the international financial system. The UK government is also fast-tracking an Economic Crime Bill, including a new register that will mean foreign owners of UK property must declare and verify their identities or face up to five years in prison and strengthening Unexplained Wealth Orders.
  • Time is up for Putin's cronies hiding dirty money in the UK, and we must and will impose the highest costs on Russia so long as this conflict persists.

No comments: