To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether the Government has considered imposing sanctions on National Bank Trust.
20 June 2022
We assess that the National Bank Trust is owned by the Central Bank of Russia (CBR). The CBR is subject to a ban on the provision of financial services for the purposes of foreign exchange and asset management. Over 3 million Russian companies, including National Bank Trust, are barred from raising money in the UK's capital markets. While we do not speculate on future sanctions, nothing and no one is off the table and we will continue to ratchet up the pressure on Putin and his regime.
Foreign, Commonwealth and Development Office
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