Russia unlikely to meet debt obligations as Western sanctions bite, Moody’s warns March 6, 2022 One of the world’s top credit rating agencies has raised concerns over Russia’s ability to service its debt as Western sanctions hobble Moscow’s economy. Moody’s said its move to downgrade Russian debt to the second-lowest rung on its ratings ladder was “driven by severe concerns around Russia’s willingness and ability to pay its debt obligations”. [...]
UK plans to sanction all Russian nationals would breach equality laws, banks say April 1, 2022 The UK government’s plans to ban Russians from holding more than £50,000 in UK bank accounts are unfeasible, banks have said. Banks have told the government that the sanctions measures put in place in response to Russia’s invasion of Ukraine would breach equality laws, which prevent discrimination on the basis of nationality. The sanctions set [...]
Boris Johnson announces latest sanctions vowing to inflict “maximum economic pain” on Russia March 3, 2022 Prime Minister Boris Johnson has announced an additional round of sanctions against Russian oligarchs and vowed to “inflict maximum economic pain” on Putin’s regime. “For as long as Putin continues his barbaric attack on innocent Ukrainians we will continue to exert every power we have to inflict maximum economic pain on Putin and his war [...]
New UK sanctions: Russian aviation and space industry blocked from insurance market March 3, 2022 The UK government has imposed fresh sanctions targeting Russia’s aviation and space industry, meaning that businesses cannot access the UK insurance sector. The measures, hauled in in response to Russia’s invasion of Ukraine, will “severely limit” access to the global insurance and reinsurance market, the UK government announced today. The European Union (EU) is expected [...]
PM asked to explain how a private plane was allowed to fly from Scotland to Moscow breaching Russian sanctions May 18, 2022 A private charter flight travelled from Inverness to Moscow breaching UK sanctions against Russia, despite air traffic control being informed about the flight beforehand. SNP MP Richard Thomson raised the issue in parliament during Prime Minister’s Questions, urging the PM to tell the house how it was allowed to happen. The details of a transcript [...]
Nord Stream 2 fires staff as it weighs up insolvency amid US sanctions March 1, 2022 The Kremlin-backed company which built the Nord Stream 2 gas pipeline is could file for insolvency, according to Reuters.
Latham & Watkins asks to drop sanctioned VTB Bank in lawsuit over downed flight MH17 April 20, 2022 Los Angeles law firm Latham & Watkins has asked for permission to drop Russia’s state-owned VTB Bank as a client, in a lawsuit over claims the sanctioned bank funded the militia group that shot down Malaysia Airline Flight 17. In a filing to a New York court, Latham & Watkins asked for permission to withdraw [...]
PM urges West to sanction Russian gold reserves as NATO warns of chemical weapons use March 24, 2022 Prime minister Boris Johnson has urged the West to press sanctions on Russia’s gold reserves, as NATO warns that the Kremlin-controlled state may be trying to create a climate for chemical weapons use. Johnson doubled down on his stance that the country had already “crossed a red line” during its unprovoked invasion of Ukraine, again [...]
Russian foreign minister’s stepdaughter who lives in £4m Kensington flat is sanctioned by UK March 24, 2022 Russia’s foreign minister’s stepdaughter, who lives in a £4m flat in Kensington, has been added to Britain’s sanctions list. The Instagram influencer and socialite Polina Kovaleva is the latest target of Britain’s campaign against Kremlin-linked individuals, as Russia’s war in Ukraine enters its second month. Kovaleva, 26, who was privately educated, has documented her lavish [...]
Truss: UK willing to sanction Russian oligarchs close to Putin over Ukraine January 30, 2022 The UK will level tough sanctions on Russian oligarchs close to Vladimir Putin if he invades Ukraine, Liz Truss has said. The foreign secretary said she would next week introduce legislation in parliament that will “target more Russian interests that are of direct reliance to the Kremlin” and that the sanctions would come in place [...]