UK imposes financial restrictions on ASB and St. Petersburg currency exchange operations
The UK's latest move has seen it slap sanctions on the Russian Deposit Insurance Agency and the St. Petersburg Stock Exchange, according to recent statements. The rationale behind these sanctions includes the assumption that these entities are leveraging their financial services to mingle with the Russian government's strategies.
In the list of entities that have been hit with sanctions, a total of 82 have been added, including 20 individuals. One of them is a British citizen, while 14 members of the Agency for Social Projects (ASP) have also been targeted. The UK believes that the ASP is stirring up "information warfare" against Ukraine's sovereignty and democracy.
Similarly, the EU Council has greenlit new sanctions against Russia. Among the targets are depositories and registrars such as SurgutInvestNeft, VTB Registrar, VTB Specialized Depository, R.O.S.T., Specialized Depository Infinitum, DRAAGA, Region, RDC "Pariatet", New Registrar, Reestr-RN, specialized depository Guarantor, Defense Registrar, Rekom, and more. The company "A7", which specializes in conducting foreign economic activity calculations, has also been included in the sanctions list.
Other additions to the sanctions list include the electronic components distributor MT-Systems, the NCO St. Petersburg Clearing Center, and 18 ships which the UK considers part of Russia's "shadow fleet."
In a statement, the UK government expressed that these new sanctions would further isolate the Russian economy and hamper its revenue streams. The St. Petersburg Stock Exchange has reported that these sanctions will not disrupt the usual level of customer service and they continue to operate in normal mode while closely monitoring the situation.
The Deposit Insurance Agency was contacted by RBC for comment. It's worth noting that these sanctions are part of a broader international initiative to exert pressure on Russia by striking its financial and strategic sectors.
The UK announced 100 new asset freezing designations against individuals, companies, and ships on May 20, 2025. Among these, 62 entities were targeted, including 42 financial institutions that are thought to have assisted in the evasion of sanctions. The Russian Deposit Insurance Agency, the St. Petersburg Currency Exchange, and the Non-bank Credit Organization Joint-Stock Company Petersburg Settlement Centre were among the newly designated entities.
The EU, on the other hand, imposed asset-freeze measures against 66 individuals and 67 entities, both inside and outside Russia, as part of its 17th package of sanctions against Russia. The EU also introduced new trade restrictions and amended its Russia hybrid threats sanctions regime to provide a framework for further trade sanctions.
These sanctions are an escalation of the international community's efforts to impose penalties on Russia, targeting its military, energy, and financial sectors, and aiming to force Russia to change its policies.
- The UK's recent decision to sanction the Russian Deposit Insurance Agency and the St. Petersburg Stock Exchange is part of a broader international initiative aimed at exerting pressure on Russia, involving not only these entities but also financial institutions and strategic sectors.
- The European Union (EU) has also joined in the sanctions against Russia, imposing asset-freeze measures on various individuals and entities, including the Russian Deposit Insurance Agency, in an effort to impose penalties on Russia and force changes in its policies, targeting its financial sectors among others.
