Britain will not lift sanctions against Russia

The United Kingdom has introduced new legislation that allows sanctions against Russia to remain in place until Moscow pays compensation to Ukraine.

This was reported to Yevropeiska Pravda by the press service of the British Foreign Office.

The new legislation was announced by Foreign Secretary James Cleverly.

According to him, the British government assumes the authority to maintain sanctions against Russia until compensation is paid to Ukraine and introduces a new way to use frozen Russian assets that can be donated to restore Ukraine.

The new measures are announced ahead of a major conference on Ukraine's recovery in the UK this week.

It also comes as London prepares to pass a law that would require those holding assets in the UK on behalf of the Central Bank of Russia (CBR), the Russian Ministry of Finance (MoF), or the Russian Sovereign Wealth Fund (SWF) to disclose them to the UK Treasury.

"As Ukraine continues to defend itself against Russian invasion, the horrific consequences of Putin's war are clear. Ukraine's reconstruction needs are and will continue to be enormous," said Cleverley.

"With our new measures today, we are strengthening the UK's sanctions approach, confirming that the UK is prepared to use sanctions to make Russia pay for rebuilding the country it so recklessly attacked," he said.

These new measures mark a significant strengthening of the UK's sanctions approach to Russia as Putin and his cronies continue their illegal war and Ukraine goes on the offensive.

"We will support Ukraine for as long as it takes to recover from Russian aggression and lay the foundations for a prosperous nation," said British Finance Minister Jeremy Hunt.

Author - Olena Madiak, 19/06/2023