Financial news

UK sanctions Russia commanders, Iran businessmen following strikes on Ukraine territory – JURIST

The UK Wednesday announced 16 new sanctions against Russian commanders and Iranian businessmen in response to missile and drone strikes on Ukrainian civilian infrastructure. The sanctions are in response to the continuing Russian occupation and seizure of Ukrainian territory.The new sanctions target 12 Russian commanders, 3 Iranian businessmen and an Iranian business for the Iranian-manufactured drones which have played a “central role” in the strikes. The sanctions include both an asset freeze and a travel ban. The asset freeze prevents any UK citizen or UK-based business from dealing with any funds or other economic resource owned, held or controlled by the sanctioned individual or entity. The travel ban requires that sanctioned individual or entity be refused leave to enter or remain in the UK.The sanctions include MADO, an Iranian company that specializes in aircraft propulsion. The company is responsible for manufacturing engines of the drones used by Russia against Ukraine. The sanctions also included Yousef Aboutalebi, the director of MADO.The sanctions are part of a broader effort by Western countries to discourage further destabilization of Ukraine. On Monday, G7 leaders and EU foreign ministers held several meetings to discuss the implementation of new sanctions against Iran and economic support for Ukraine.