UK targets Central Bank of Russian Federation (CBR) and imposed more economic sanctions

Posted on March 7, 2022   |  

  • The UK Treasury department is in concert with the US and the European Union (EU), to stop the CBR from deploying its foreign reserves that undermine the impact of sanctions imposed by the west, and undercut its ability to engage in foreign exchange transactions to sustain the Russian currency Rouble.
  • Under the plans, British people and businesses are banned from transacting with the Russian central bank, its finance ministry, and its money fund.
  • Restrictions against Russian financial institutions include the prevention of Russian companies from issuing transferable securities and money market instruments in the UK.
  • It will also grant authority to prevent established banks from accessing Pound Sterling and clearing payments through the UK.



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