Additional EU And UK Sanctions Imposed On Russia

On February 24 and 25, 2023, the United Kingdom and European Union each adopted additional sanctions against Russia due to the ongoing conflict in Ukraine. These new measures are summarized below.

EU Sanctions

On 25 February 2023 the EU issued its tenth package of sanctions against Russia. Under this new package:

Asset freezes

Asset freezes have been imposed on three Russian banks, specifically Alfa-Bank, Rosbank and Tinkoff Bank, as well as the Russian National Wealth Fund and the Russian National Reinsurance Company.

• Asset freezes have been imposed against other individuals and entities including various Russian officials, military leaders and commanders of the Wagner Group, manufacturers and suppliers of military items to the Russian military, persons involved in the development of drones that are targeting Ukrainian civilians and civilian infrastructure (including Iranian individuals), Russia's largest manufacturer of commercial