UK to Announce New Sanctions Against Russia on Monday: AFP

(Bloomberg) -- The UK will announce a fresh set of sanctions against Russia on Monday, aimed at reducing revenues for Moscow three years after it invaded Ukraine, Agence France-Presse reported. 

The new measures will be the “largest package” against Russia since the early days of the war, the report said, citing UK Foreign Secretary David Lammy. 

Western nations and their allies have imposed several rounds of sanctions against Russia, including on its oil industry, as they sought to curtail the flow of petrodollars into the Kremlin’s coffers and, with it, funding for the war in Ukraine. 

New restrictions planned by the UK contrast with the US, which has raised the possibility of lifting the raft of sanctions it’s aimed at Russia. Top officials from the US and Russia met for a first round of talks last week over the war in Ukraine and raised the possibility of broader cooperation.

The US engagement with Russia provoked alarm among European nations and Ukraine’s President Volodymyr Zelenskiy, who wasn’t invited to take part in the meeting.

UK Prime Minister Keir Starmer spoke on Saturday with Zelenskiy to reiterate Britain’s support. Starmer repeated that Kyiv must be at the heart of any negotiations to end the war and that safeguarding Ukraine’s sovereignty was essential to prevent future aggression from Russia, according to a readout from Downing Street. 

It added that Starmer intends to hold “these important discussions” with President Donald Trump during his visit to Washington this week.  

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