UK Government Introduces New Legislation to Keep Russian Sanctions in Place Until Compensation is Paid to Ukraine

The UK government has introduced new legislation that will allow it to keep Russian sanctions in place until compensation is paid to Ukraine for the damage caused by the invasion. The legislation, which was announced by Foreign Secretary James Cleverly on June 19, 2023, amends the purposes of the UK's Russia sanctions regime so that they can also be used to promote the payment of compensation.

The new legislation also requires designated persons under the Russia sanctions regime to disclose all assets they hold in the UK. This will make it easier for the government to track and seize assets that could be used to pay compensation to Ukraine.

"The UK is taking powers to maintain Russian sanctions until compensation is paid to Ukraine," said Cleverly. "This will ensure that Russia pays for the damage it has caused to Ukraine, and that those responsible for this illegal invasion are held to account."

The new legislation is a significant step in the UK's efforts to hold Russia accountable for its actions in Ukraine. It sends a clear message to the Russian government that the UK will not tolerate its aggression, and that it will continue to support Ukraine until it is fully compensated for the damage it has suffered.

What does this mean for Russia?

The new legislation means that the UK government will be able to keep Russian sanctions in place for as long as it takes for Ukraine to be fully compensated for the damage caused by the invasion. This could have a significant impact on the Russian economy, as the sanctions have already caused significant disruption to trade and investment.

The new legislation also makes it more difficult for Russian individuals and entities to hide their assets in the UK. This could make it more difficult for them to finance their activities, and could also lead to them being held accountable for their actions.

What does this mean for Ukraine?

The new legislation is a significant show of support for Ukraine from the UK government. It sends a clear message that the UK is committed to helping Ukraine rebuild after the war, and that it will not allow Russia to get away with its aggression.

The new legislation will also make it easier for Ukraine to access the assets that it needs to rebuild. This could help to speed up the reconstruction process, and could help to ensure that Ukraine is able to recover from the war as quickly as possible.

The UK government's new legislation is a significant step in the fight against Russian aggression. It sends a clear message to Russia that the UK will not tolerate its actions, and that it will continue to support Ukraine until it is fully compensated for the damage it has suffered. The new legislation will also make it easier for Ukraine to rebuild after the war, and could help to speed up the reconstruction process.

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