The UK government has announced fresh sanctions against Russia, aimed at undermining Moscow's capacity to support the ongoing war in Ukraine. Prior to the G7 summit in Japan on Friday, London declared that it would be implementing a ban on "Russian diamonds", copper, nickel, and aluminum, and increasing the number of entities targeted in Russia's military industrial complex.
As per estimates, Russia's diamond trade purportedly amounts to a total of $4-5 billion annually, contributing to much-needed tax revenues for the Kremlin.
Later the same day, the British Foreign Office revealed that the latest round of sanctions would freeze the assets of 86 specific individuals and organizations. These would include companies that have been connected to the theft of Ukrainian grains, and those having a role in the shipment of Russian energy.
Additionally, the new sanctions would also take aim at "advanced military technology and remaining revenue sources", thereby attempting to hit Russia where it hurts the most.
Clearly, the UK is sending a signal to President Vladimir Putin, suggesting that they are willing to take more robust steps against Moscow as long as the latter continues to torpedo Ukraine's sovereignty.
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