November 10 2022 22:48
The British government said on Thursday it had frozen more than 18 billion pounds ($20.5 billion) in assets belonging to Russian businessmen, other individuals and companies.
The Office for the Enforcement of Financial Sanctions, affiliated with the Ministry of Finance, said in its annual report that Russia has become the country most exposed to sanctions by Britain.
The frozen Russian assets are £6 billion more than the amount declared in all other UK sanctions programmes.
Britain has previously imposed sanctions this year on Russian businessmen, politicians, officials and military leaders.
The frozen assets are a combination of stakes in companies and cash in bank accounts. It does not include tangible assets such as real estate.
“We have imposed the toughest sanctions ever on Russia,” Andrew Griffiths, Secretary of State at the Treasury, said in a statement.
Britain has so far imposed sanctions on more than 1,200 individuals, including prominent businessmen and politicians, and more than 120 entities in Russia.
Source: Reuters
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