Ships, banks and companies: UK hits Russia with new sanctions

The UK Foreign, Commonwealth and Development Office has announced a new round of sanctions against Russia, adding 19 new entries to its sanctions list. The measures target 13 individuals and entities as well as six vessels accused of supporting Russia or transporting Russian energy products.

Source: European Pravda, citing a UK Foreign Office sanctions document

Details: Six Russian financial institutions – Ozon Bank, the Russian Export-Import Bank (Eximbank of Russia), Centre-Invest Bank, Realist Bank, Stavr Bank and Teleport Bank – have been sanctioned through asset freezes, restrictions on trust services and director disqualification measures.

UK financial institutions are also prohibited from maintaining correspondent banking relationships with these banks or processing payments to, from or through their accounts.

Northern Engineering LLC has been sanctioned for operating in Russia's strategically important energy sector.

Indian company Frion Ship Management LLP was added to the sanctions list for possibly facilitating the sale of the LNG tanker Arctic Express into Russian ownership and control.

Four Russian companies – Metallkomplekt, Nikom, Promsiz and Tekhnolyuks – have been sanctioned for supplying goods or technology that could contribute to destabilising Ukraine or undermine its territorial integrity.

Russian national Aleksander Zhdanov, owner of the chemical company Siltron, has also been sanctioned. The measures against him include an asset freeze, a travel ban, restrictions on trust services and a director disqualification.

Six vessels have been sanctioned under the UK's shipping and trade measures: Arctic Express, Perseas, Torvian, Asteras, Visund and Zenturo.

The UK said the Russian-flagged Arctic Express transported liquefied natural gas of Russian origin to a third country. The other five vessels are accused of transporting Russian-origin crude oil or petroleum products to third countries.

The sanctioned vessels are banned from entering UK ports and may be detained or ordered to leave UK waters. They are also prohibited from receiving technical, crewing, operational, chartering, brokering or financial services.

Background:

• On 4 August, the US imposed sanctions on a number of entities within the Russian Defence Ministry as well as two Russian companies and five Russian nationals.
• It was also reported that the European Union is reviewing its approach to sanctions against Russia.

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