ANNOUNCEMENT 04 May 2022

In May 2022, the UK government introduced new sanctions against several Russian media organizations and companies operating in the electronics and manufacturing industries.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

UK HM Treasury, Office of Sanctions Implementation, Financial Sanctions Notice, 04/05/2022. Available at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1073146/Notice_Russia_040522_1.pdf

UK Foreign, Commonwealth and Development Office, Press Release, “Russia cut off from UK services”. Available at: https://www.gov.uk/government/news/russia-cut-off-from-uk-services

Inception date: 04 May 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 4 May 2022, the UK Treasury issued a notice imposing sanctions on 32 Russian entities on account of their alleged role in the invasion of Ukraine. The sanctioned entities are operating in various sectors including electronics, media, and manufacturing industries. The Financial Sanctions Implementation Office of HM Treasury has frozen the assets of these entities and transactions with these entities are prohibited.

Sanctioned entities include Russian state-owned All Russia State Television and Radio Broadcasting, InfoRos, SouthFront and the Strategic Culture Foundation; as well as Russia’s largest chipmaker Joint Stock Company Mikron, and Russian virtual currency exchange Garantex.

With the same announcement, the UK Treasury also imposed sanctions on some key individuals in these industries.

AFFECTED SECTORS

 
N/A