UK bans all Goods used by Russia in the Russia/Ukraine War

On the eve of the 1-year anniversary of Russia’s invasion of Ukraine, the UK announced a fresh set of sanctions on Russia. The newest sanctions aim to ban “all items Russia has been using on the battlefield.” Apart from the aforementioned, there are also new sanctions against Russian organizations & citizens involved indirectly contributing to the war effort.

Exports Ban

Including 100+ goods, the newest export ban by the UK, prohibits UK-based entities from exporting goods to Russia that are being used in their invasion of Ukraine. Aircraft parts, heavy machinery, radio and electrical equipment are among the goods included in the ban.

Entity/Individual Bans

The bans on citizens include senior executives across various companies and industries. Included within the sanctions are executives from Russia’s state owned power company Rosatom, executives from its largest defense companies, and Russian elites close to Putin.

The sanction also includes 4 Russian banks, and 6 entities that repair Russian military equipment and supply their front lines.

A total of 34 executives were sanctioned from the 2 defense companies given below-

• Rostec(state-owned defense company)
• Almaz-Antey(specializes in aircrafts and missiles)

There are also increased measures in place for the following individuals that were previously sanctioned. The aim is to restrict their access to UK trade & finance –

• 20 executives from Gazprom
• Mattias Warnig (CEO, NordStream 2)
• Lyubov Kabaeva (Oligarch)
• Alexei Dyumin (Putin’s Chief Security Guard)
• Viktor Zubkov(Former Russian Prime Minister)
• And many more…

Import Ban

To further cripple Russia’s capabilities, the UK is banning imports of over 140 goods processed in third countries using Russian raw materials.

It is likely that the UK will add more officials to its human rights sanction lists in the coming weeks. To keep yourself updated with UK, EU, & US sanction lists, you can subscribe to Trademo Sanctions Screener. Start for free!