ANNOUNCEMENT 29 Jun 2022

In June 2022, the UK government announced new sanctions against five Russian companies.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

UK HM Treasury, Office of Sanctions Implementation, Financial Sanctions Notice, 29/06/2022. Available at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1086638/Notice_Russia_290622.pdf

Inception date: 29 Jun 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 29 June 2022, the UK Treasury issued a notice imposing sanctions on five Russian entities on account of their alleged role in the invasion of Ukraine. The Financial Sanctions Implementation Office of HM Treasury has frozen the assets of these entities and transactions by UK citizens or companies with these entities are prohibited.

Sanctioned entities include Joint Stock Company Marshal Global, a Russian investment banking, financial and asset management firm; Joint Stock Company Moscow Industrial Bank, a Russian commercial bank; JSC Kolmar Group, a Russian coal mining and processing company; JSC New Opportunities, a Russian company carrying on business in Russian information, communications and digital technologies sector; and R-Style Softlab, a Russian company carrying on business in Russian information, communications and digital technologies sector.

Apart from the above-mentioned entities, the UK also introduced sanctions on several Russian individuals.

AFFECTED SECTORS

 
N/A