Factbox-UK targets Russian central bank with new sanctions

Britain said on Monday it was taking further measures against the Russia in concert with the United States and European Union, prohibiting any British entities from undertaking transactions with the Russian central bank, finance ministry and wealth fund.

Below is an outline of the full measures published by the government on Monday:

– Restrictions to prohibit UK persons from undertaking financial transactions involving the Central Bank of the Russian Federation, the Russian National Wealth Fund, and the Ministry of Finance of the Russian Federation.

– Restrictions against Russian financial institutions.

– Measures to prevent Russian companies from issuing transferable securities and money market instruments in the UK. This is in addition to the prohibition of the Russian state raising sovereign debt in the UK already announced.

– A power to prevent designated banks from accessing Sterling and clearing payments through the UK. This will match the power the US already has. Banks subject to this measure will be unable to process any payments through the UK or have access to UK financial markets.

– A set of measures to strengthen significantly our trade restrictions against Russia. This will include a prohibition against the export of a range of high-end and critical technical equipment and components in sectors including electronics, telecommunications, and aerospace.