LONDON
British Prime Minister Rishi Sunak said Friday that new sanctions against Russia will ensure Moscow pays a price for its actions in the war against Ukraine.
“We believe in democracy, freedom, the rule of law – and it’s right that we stand up for those things,” Sunak told the BBC.
“I’m hopeful and confident that our partner countries will follow as they have done when we’ve done this previously,” he said. “That will make the sanctions more effective, ensure that Russia pays a price for its illegal activity.”
The UK announced a new wave of sanctions targeting businesses and individuals linked to Russia’s capacity to fund the war.
A total of 86 designations target individuals and organizations linked to Moscow’s energy, metals, defense, transport and financial sectors.
Among measures being taken by the UK is a ban on Russian diamond imports, a sector that contributed around $4 billion (£3.2 billion) to the country’s export revenue in 2021.
Additionally, legislation is set to be introduced later this year to block imports of Russian-origin copper, aluminum and nickel.
The UK, together with its G7 counterparts, has enacted an unprecedented set of sanctions targeting Russia’s military capabilities.
According to the British government, thus far, more than 1,500 individuals and entities have been subjected to sanctions, resulting in the freezing of assets exceeding £18 billion in the UK. Moreover, more than £20 billion worth of goods traded between the UK and Russia have been subjected to sanctions.
