Britain Freezes Assets of Russia's Largest Bank "Sberbank"

Britain, in coordination with Western allies, aimed at putting pressure on Russian President Vladimir Putin over the military operation in Ukraine.

The British Foreign, Commonwealth and Development Ministry said, in a statement today, published by Bloomberg, that Britain imposed a complete freeze on the assets of the Russian "Sberbank" bank, in a move coordinated with the United States, and also froze the assets of the Credit Bank of Moscow.

It added that the United Kingdom decided that it would stop all imports of Russian coal by the end of 2022, and the sanctions also included eight businessmen close to the Kremlin who work in industries such as fertilizers, oil and gas, transportation and diamonds.

Britain also decided to halt foreign investment in Russia, which exceeded 11 billion pounds ($14.4 billion) in 2020, as well as ban the export of essential oil refining equipment and catalysts.

British Foreign Secretary Liz Truss said: "Our latest wave of measures will end UK imports of Russian energy and impose more sanctions on inpiduals and businesses, eliminating Putin's war machine."