On Feb 24, the governments of the United Kingdom and Australia imposed the largest packages of sanctions against Russia since the beginning of its full-scale invasion of Ukraine.
In particular, the new British sanctions have targeted almost 300 Russian people and companies, the government said in a statement. The key target was one of the worldʼs largest oil pipeline companies “Transneft”, which transports more than 80% of Russiaʼs oil exports.
The sanctions also affected 175 companies in the “2Rivers” network, one of the largest shadow fleet operators in the world, and 48 tankers involved in transporting Russian oil in circumvention of sanctions.
Among other sectors that were sanctioned was the banking sector. Restrictions were imposed on “Poshta Bank”, “Tochka Bank”, “Transcapitalbank”, “Absolut Bank”, “Sinara Bank”, “Avers Bank”, “Lanta Bank”, “Fora Bank”, and “Ak-Bars Bank”.
Among the foreign companies under sanctions were Chinese, Indian, and Thai organizations, as well as firms from the UAE. Separately, Georgian TV channels Imedi and PosTV, whose activities were recognized in Britain as Russian propaganda, were subject to restrictions.
Also, on the fourth anniversary of the Russian Federationʼs full-scale invasion, Britain reported a new package of military and humanitarian support for Ukraine.
Australia ʼs new sanctions target 180 people, companies and shadow fleet vessels linked to Russia, Foreign Minister Penny Wong declared.
The sanctions cover the financial and banking sectors, defense, aerospace, oil and gas, transportation, and science and technology. They are aimed at reducing Russiaʼs revenues and limiting its ability to continue its invasion of Ukraine.
The country also introduced restrictions for the first time on cryptocurrency organizations that make cross-border payments to circumvent sanctions against the Russian Federation.
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