UK targets Russia’s largest bank with new sanctions – POLITICO

LONDON – Britain has imposed asset freezes on Russia’s largest bank as punishment for alleged war crimes in Ukraine.

The Federal Foreign Office, in coordination with the USA, announced the action against Sberbank and the Credit Bank of Moscow

The UK also announced a phase-out of Russian coal before the end of 2022 to accompany a similar plan for Russian oil announced last month.

It also imposed new export bans, including on oil refineries and iron and steel products.

Another eight oligarchs active in Russia’s fuel sector have also been targeted, including Leonid Mikhelson, the CEO of natural gas producer Novatek, and Sergey Kogogin, a close associate of Russian President Vladimir Putin and founder of fertilizer company PhosAgro.

Secretary of State Liz Truss said the new measures would “put an end to British imports of Russian energy and sanction even more individuals and companies and decimate 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 wins.”

It comes after evidence surfaced of mass killings of civilians in areas around Ukraine’s capital Kyiv, which Russia denies responsibility for. UK targets Russia's largest bank with new sanctions - POLITICO

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