To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, which Russian banks are not subject to the UK's sanctions on Russia for the invasion of Ukraine; and for what reason those banks have not been sanctioned.
Answered on
7 March 2022
We have acted swiftly to hold Russia to account for its unprovoked attack on Ukraine. We have frozen the assets of 10 banks, which caught over 100 of their subsidiary banks. All but three Russian-owned banks identified by the Central Bank of Russia as systemically important lending institutions are now subject to UK sanctions, capturing the vast bulk of the sector. It is vital to obtain evidence and prepare cases fully before sanctioning individuals and organisations. We are coordinating with our allies to ensure as strong a package of sanctions as possible to create maximum impact- nothing is off the table.