Britain targets top Russian bankers and state-controlled entities — Analysis

In response to the Ukraine conflict in Ukraine, Britain has taken measures to freeze assets of Russian and Belarusian persons and entities. Bankers and other industrial organisations are the most recent targets.

British Foreign, Commonwealth and Development Office sent out a Thursday notice to inform citizens and entities that assets will be frozen in the UK. This would prevent them from coming into the country.

Other businessmen and individuals were also affected by these new measures, including German Gref (head of Russian Sberbank) as well as Oleg Tinkoff (head of Tinkoff Bank), who was both head of Tinkoff Bank).

The British government, along with other targets sanctioned Sergei Lavrov’s alleged stepdaughter.

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There are reasonable grounds to suspect that Polina Kovaleva…is associated with the Russian Foreign Minister, Sergei Lavrov through her mother’s relationship with him,” the document states, adding that Lavrov, being a Russian “key decision-maker”, was involved in the attempts to destabilize Ukraine.

This list included Russian banks Gazprombank Rosselkhozbank and Alfa-Bank as well as Russian Railways as ship-owning company Sovcomflot as energy company Rushydro.

This is what does this mean? We are working as usual…The only limit is: we are suspending settlements with British contractors,” an Alfa-Bank representative told the Russian news outlet RBC in response to the new restrictions.

Sanctions, imposed by Great Britain, won’t affect the activities of Rosselkhozbank. Rosselkhozbank has no assets or liabilities in Great Britain. All primary RSKHB activities are on Russian soil”, said a representative for Rosselkhozbank.

British sanctions added nine Belarusian individuals and entities to their list, along with the State Authority for Military Industry and the Minsk Wheel Tractor Plant, as well as several other military-industrial businesses.

Britain said the purpose of the new sanctions was to “Encourage Russia not to destabilize Ukraine, undermining its sovereignty or independence or undermining it’s territorial integrity..”

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