Great Britain has added Novikombank, the backbone bank of Russian industry and the Rostec state corporation, to the sanctions list. This was reported on the website of the country's government.
Sanctions involve blocking Novikombank's assets in the UK. Previously, economic restrictions against the credit institution were introduced by the European Union, the USA, Australia and New Zealand.
In addition, the UK expanded sanctions against banks already sanctioned and introduced a ban “on correspondent relations and payment processing” with Rosselkhozbank, Alfa Bank, VTB, Gazprombank, RRDB, Otkritie Bank, Promsvyazbank, Uralsib, MTS Bank, Tinkoff Bank, SMP Bank and other credit institutions.
The Office of Financial Sanctions Implementation (OFSI) report, published on December 14, said that the UK had imposed sanctions on almost the entire Russian banking sector — more than 90% of the Russian financial system was under restrictions. In total, British authorities froze Russian assets worth 22.7 billion pounds sterling ($28.9 billion).