Keighley and Ilkley MP Robbie Moore has supported new laws to allow the Government to move more quickly to impose sanctions against oligarchs and intensify overall sanctions enforcement. The Economic Crime Act became law in the early hours of Tuesday 15th March, following a mammoth voting session to expediate the passage of the Bill through Parliament.
The Bill has given the Government new powers to act in the public interest and immediately designate individuals and entities under an urgent procedure, while evidence is gathered to sanction them under our own standard procedure.
Following the passing of this bill, the Government announced over 370 more sanctions, 51 of which were aimed at Russian oligarchs and their families. Other sanctions were targeted at Putin’s key political allies, regime spokespeople and Kremlin-backed disinformation agencies. This means the UK Government have now designated over 1,000 individuals and entities since invasion under the Russia sanctions regime.
Robbie Moore MP said: “I welcome that the Government have acted quickly to strengthen our response to Putin’s cronies and ensure that corrupt elites have nowhere to hide their dirty money in the UK.
There is absolutely no room for illicit finance in this country, and by bringing forward the Economic Crime Act so quickly the United Kingdom have put Putin, and the corrupt elites propping him up, on notice.”
Chancellor of the Exchequer Rishi Sunak said: “Our Economic Crime Act will enable us to crack down harder and faster on dirty money and those who support Putin and his regime.
We are using all of our financial might to send a clear message to the Kremlin that this criminal venture will end in total failure.”
Foreign Secretary Liz Truss said: “We are going further and faster than ever in hitting those closest to Putin – from major oligarchs, to his Prime Minister, and the propagandists who peddle his lies and disinformation. We are holding them to account for their complicity in Russia’s crimes in Ukraine.
Working closely with our allies, we will keep increasing the pressure on Putin and cut off funding for the Russian war machine.”
