U.K. Sanctions Have Frozen More Than $21 Billion in Russian Assets

The U.K. said its sanctions targeting Russia have frozen nearly £18.4 billion in assets, equivalent to about $21.5 billion, as the country plans to ratchet up enforcement.

The figure, released Thursday in an annual report by the Office of Financial Sanctions Implementation, dwarfs all other U.K.-imposed sanctions combined. U.K. authorities touted the amount, current as of Oct. 20, as evidence of the country’s resolve in countering Russia’s aggression in Ukraine.

“We will continue to ramp up our sanctions to exert maximum economic pressure on the Russian regime until Ukraine prevails,” Minister of State

Anne-Marie Trevelyan

said.

The U.K. joined the U.S. and other countries in imposing sanctions on Russia after its invasion of Ukraine earlier this year. U.K. sanctions have hit more than 1,200 individuals, more than 120 entities and 19 Russian banks, the U.K. government said…

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This article was written by and originally published on www.wsj.com