March 28, 2023

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LONDON — The U.K. has imposed asset freezes against the biggest Russian bank as punishment for alleged war crimes in Ukraine.

The Foreign Office announced the action against Sberbank as well as Credit Bank of Moscow, in a move coordinated with the U.S.

Britain also announced a phase out of Russian coal before the end of 2022, to go alongside a matching plan for Russian oil announced last month.

It slapped new bans on exports too, including oil refining equipment as well as iron and steel products.

And a further eight oligarchs active in the Russian fuel sector were also targeted, including the Leonid Mikhelson, the CEO of natural gas producer Novatek, and Sergey Kogogin, a close associate of Russian President Vladimir Putin and founder of fertilizer firm PhosAgro.

Foreign Secretary Liz Truss said the new measures “will bring an end to the U.K.’s imports of Russian energy and sanction yet more individuals and businesses, decimating Putin’s war machine.”

“Together with our allies, we are showing the Russian elite that they cannot wash their hands of the atrocities committed on Putin’s orders. We will not rest until Ukraine prevails.”

It comes after evidence emerged of mass killings of civilians in areas around the Ukrainian capital Kyiv, which Russia denies being responsible for.

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