Russia imposes new sanctions on UK personnel and cabinet members

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UK Foreign Secretary James Cleverly has been added, on Saturday, to the Russian sanctions list, according to Russian Foreign Ministry spokesperson Maria Zakharova.

"Due to the UK government's progressive anti-Russian course, it was decided in January this year to additionally include a number of members of the UK Cabinet of Ministers, representatives of law enforcement agencies, and the journalistic corps on Russia's 'stop list.' It includes UK Foreign Secretary James Cleverly, in particular," Zakharova stated.    

Russia also sanctioned Michael Gove, UK Secretary of State for Levelling Up, Housing and Communities; Nadhim Zahawi, UK Minister without Portfolio; and Patrick Sanders, Chief of the General Staff of the UK Armed Forces, among other top officials.

Russia's MFA also announced on Thursday that Moscow has added 36 other members of the UK cabinet, law enforcement agencies, and press agencies to the sanctions list.

Russia sets terms for withdrawal of unfriendly countries' firms

Russia's Finance Ministry published, in December of 2022, a list of conditions for corporations from unfriendly countries to exit from Russia, requiring them to sell their stocks at a 50% discount of their market value.

The Ministry's committee for monitoring foreign investment in Russia has established the conditions that must be met before corporations from hostile nations are granted permission to withdraw from Russian assets.

The Ministry's document detailed that the first condition is "availability of independent assessment of market value of assets." Second, the sale of assets should be carried out "with a discount of no less than 50% of the market value of the corresponding assets." Third, it is necessary to "establish key performance indicators for new shareholders." The fourth condition is "availability of installment payment for 1-2 years and (or) obligation to voluntarily transfer of funds to the federal budget in amount of not less than 10% of the amount of the transaction." 

Furthermore, the amount of profit to be paid should not exceed 50% of the previous year's net profit.

It is worth noting that the commission will also consider "the findings of retrospective investigation of profit (dividend) payment for past periods," as well as foreign shareholders' readiness to continue commercial activities in Russia.

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