It has been hammered by sanctions introduced by Western countries since February. The initial shock forced the stock market in Russia to close temporarily and saw people queueing up at cash machines, worried about their savings. The rouble has, however, returned to pre-war levels, due to careful management by Russia’s central bank. Its interventions included limiting the amount of money...
The UK government has imposed sanctions on Chelsea football club director Eugene Tenenbaum in an attempt to freeze up to £10bn of assets linked to the club’s Russian oligarch owner, Roman Abramovich. The UK said it was extending sanctions to Tenenbaum and David Davidovich, another close associate of Abramovich, because the oligarch had transferred billions of pounds of assets to the pair as...
With Vladimir Putin’s troops massed on the Ukrainian border, governments in the US and Europe have vowed to retaliate by imposing harsh economic restrictions. The British foreign secretary, Liz Truss, has warned of “the toughest sanctions regime against Russia we have ever had”. Of all the countries threatening economic retaliation, the UK has an outsized ability to inflict damage. There is...