Financial Sanctions Regime

Part of Treasury – in the House of Commons on 20 June 2023.

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Photo of John Glen John Glen The Chief Secretary to the Treasury

The Government undertake extensive assessment of the effectiveness of the sanction regimes, which are eroding Russia’s financial base. We have sanctioned 28 Russian banks, covering 80% of Russia’s banking sector, and frozen more than £18 billion of Russian assets, and we have implemented unprecedented trade sanctions in addition.