On Thursday, the British government said that it had frozen assets worth 18 billion pounds ($20.5 billion) held by Russian billionaires and other persons and businesses sanctioned for Moscow’s invasion of Ukraine.
According to the Office of Financial Sanctions Implementation, which is part of the finance ministry, Russia has surpassed Libya and Iran to become Britain’s most-sanctioned country.
The frozen Russian assets were 6 billion pounds, which was 6 billion pounds greater than the total recorded under all other British sanctions regimes.
‘We have imposed the most punitive sanctions ever imposed on Russia, and it is harming their military machine,’ said Andrew Griffith, a Treasury junior minister. ‘Our message is clear: we will not let Putin win this bloody conflict.’
So far, Britain has sanctioned around 1,200 individuals and 120 entities in Russia, ranging from high-profile businesses and companies to influential politicians.
On February 24, the day Moscow sent soldiers into Ukraine, the government began enforcing travel bans, asset freezes, and other measures.