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Britain Has Frozen £18 Billion in Russian Assets Since Ukraine Invasion

U.K. financial institutions and other firms have frozen more than £18 billion worth of assets linked to blacklisted Russian parties since Moscow launched a full-scale invasion of Ukraine, new figures show.

In an annual report published Thursday, the U.K. Office of Financial Sanctions Implementation, or OFSI, disclosed that the figure is around £6 billion more than is currently restrained across all other U.K. sanctions regimes. The British government blacklisted more than 1,270 individuals, over 120 entities and 19 Russian lenders since Russia began its all-out assault on Ukraine in late February.

OFSI said it received 147 reports of suspected sanctions breaches in the financial year ending in March 2022—up from 132 the previous year—but added that the number of suspected violations reported to it “significantly increased” in the first six months of the war in Ukraine, during which it received 236 reports.

Moneylaundering.com may update this coverage as more information becomes available.
Topics : Sanctions
Source: United Kingdom
Document Date: November 10, 2022