Russia: Sanctions

(asked on 25th April 2023) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what recent assessment he has made of the effectiveness of UK sanctions against Russia.


Answered by
Anne-Marie Trevelyan Portrait
Anne-Marie Trevelyan
This question was answered on 4th May 2023

Sanctions are proving effective. They have sent Russia into recession, significantly degrading the building blocks for Russia's long-term growth and Putin's ability to fund his war machine. Russia's budget is in deficit and by March it had already spent 81 per cent of its forecast GDP deficit in 2023. Russia is now cut off from Western financial markets and service sectors, constraining growth and productivity. By sanctioning products found on the battlefield, Russia is forced to source lower quality substitutes elsewhere, where they are often less capable and liable to failure. We continue monitor the effectiveness of all of our sanctions.

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