Russia to be 'starved' of weapons as UK announces further sanctions
22 February 2024, 16:06
Britain has announced new sanctions against Russia aimed at targetting its weapons supply chain, as well as other vital funding streams, in a bid to crush Vladimir Putin’s war effort as the invasion of Ukraine approaches its second anniversary.
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The sanctions will affect munitions manufacturers, electronics companies, and diamond and oil traders to starve Putin of resources and deplete his deadly war chest by applying economic pressure on Russia.
The package aims to crack down on those supplying the Russian leader with munitions such as rocket launch systems, missiles, and explosives, by cutting off funding for Putin’s illegal war from every angle.
Foreign Secretary, David Cameron said: Ukraine has shown that it can and will defend itself. Putin mistakenly thought that because Russia’s economy is bigger than Ukraine’s, he would gain a quick victory. But the economies of Ukraine’s friends are 25 times bigger than Russia’s.
“And two years on, we stand united in support for Ukraine.
“Our international economic pressure means Russia cannot afford this illegal invasion. Our sanctions are starving Putin of the resources he desperately needs to fund his struggling war.
READ MORE: EU agrees £43 billion aid deal to Ukraine, overcoming reluctance from Hungary
“Together, we will not let up in the face of tyranny. We will continue to support Ukraine as it fights for democracy- for as long as it takes.”
This comes as the European Union approved its own package of sanctions on Wednesday as part of a coordinated Western effort to incapacitate Putin’s war machine, with bans on almost 200 entities and individuals accused of helping Moscow obtain weapons or of kidnapping Ukrainian children.
Among those sanctioned include Sverdlov State Owned Enterprise, the largest enterprise in the Russian ammunition industry, as well as oil trader Niels Troost and his company Paramount Energy & Commodities SA. Troost has been accused of facilitating the trade of Russian oil.
Two Russian diamond companies are also amongst those targeted by the new package, as well as Pavel Alekseevich Marinychev, the new CEO of Alrosa, the largest state-owned Russian diamond producer which is estimated to hold an enormous 30 per cent share in the global diamond market.
The UK has so far sanctioned 2,000 individuals, companies, and groups, with the latest additions to the list specifically targeting Russia’s military-industrial complex.
The Foreign Office also confirmed that several non-Russian businesses and entities are also amongst those sanctioned, including firms linked with Turkey and China.
Saturday marks the second anniversary of the Russian invasion of Ukraine, with Ukrainian leader Volodymyr Zelensky desperately appealing to Western allies to increase the supply of arms and aid to the front line.
