UK tightens law to ease sanctions on Russian oligarchs

This content was published on Mar 04, 2022 – 19:38

London, March 4 (EFE). The UK government announced on Friday that it would amend the Economic Crimes Act to facilitate sanctions against Russia’s oligarchs, after it received criticism from the opposition for its apparent slowness in law enforcement. Penalties compared to other countries.

It said in a statement that the Executive would introduce amendments to allow the UK to “align more quickly” with action against individuals who declare “allies such as the US, Canada and the European Union” through “urgent action”. Ministry of Foreign Affairs.

London has so far imposed economic sanctions on eleven Russian rulers, as well as measures against the country’s president, Vladimir Putin, and his Foreign Minister Sergey Lavrov, as well as various banks and companies, in response to the invasion of Ukraine by order of Moscow. .

British Prime Minister Boris Johnson said legislative changes would provide the government with a new “arsenal” to “go deeper and faster” in imposing sanctions.

The government will remove from the legislation the need to make arguments about the proportionality of penalties and will introduce other amendments to allow it to operate “more quickly”.

“Our message to Putin and his henchmen has been clear from day one: an invasion of Ukraine would have serious and devastating consequences,” said Secretary of State Liz Truss.

“The changes will allow us to move faster and act more harshly against those close to Putin, including the oligarchy, as we continue to intensify the pressure on Russia’s unlawful and unjustified aggression,” Truss added. EFE

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