Three new sanction packages targeting Russian individuals and entities supporting the war against Ukraine have been enacted by Ukrainian President Zelensky. These measures focus on those involved in terrorism financing, sanctions evasion, and propaganda dissemination, as well as members of Russian criminal organizations aligned with Putin. The sanctions also include several specific individuals, such as Oleksandr Bohuslayev and Ihor Mosiychuk, for their alleged roles in fraud and pro-Russian activities respectively. These actions are coordinated with international partners, including the European Union, to further isolate Russia.
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Approximately €200 billion in frozen Russian assets, largely held by Euroclear in Belgium, are subject to increasing calls for seizure to aid Ukraine. While discussions regarding asset seizure are ongoing across Europe, concerns regarding the legality and potential ramifications, including the characterization as an “act of war,” have been raised. Despite these challenges, the UK has already frozen £25 billion in Russian assets, demonstrating a commitment to financial sanctions against Russia. The debate continues regarding the feasibility and implications of utilizing these frozen assets to support Ukraine’s war effort.
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The UK government has frozen the assets of the far-right group Blood and Honour, along with its affiliates Combat 18 and 28 Radio, marking the first time financial sanctions have been imposed on an extreme right-wing organization. This action, led by the Treasury, differs from previous proscriptions by the Home Office, focusing on restricting the group’s financial operations rather than outright banning it. Authorities suspect Blood and Honour’s involvement in terrorist activities, including recruitment and funding. The asset freeze prohibits anyone in the UK from providing financial support to the named entities.
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John Q. Hosedrinker