Shell to invest up to £25bn in UK energy after cutting ties with Russia

The UK has unveiled fresh sanctions against 65 more Russian entities, including Alfa-Bank, as it targets “strategic industries” and top business figures in the country.

The new measures target industries supporting Russia’s invasion of Ukraine, including Russian Railways and defence company Kronshtadt, the main producer of Russian drones.

The Wagner Group – the organisation Russian mercenaries reportedly tasked with assassinating President Zelenskyy – has also been sanctioned.

Six more banks are targeted, including Alfa-Bank, whose cofounders include previously sanctioned oligarchs Mikhail Fridman, Petr Aven and German Khan. The world’s largest diamond producer Alrosa is also sanctioned.

Individuals sanctioned include the billionaire oil tycoon Eugene Shvidler, founder of Tinkoff bank Oleg Tinkov, Herman Gref, the chief executive of Russia’s largest bank Sberbank, and Polina Kovaleva, step-daughter of foreign minister Lavrov.

Foreign Secretary Liz Truss said:

These oligarchs, businesses and hired thugs are complicit in the murder of innocent civilians and it is right that they pay the price. Putin should be under no illusions – we are united with our allies and will keep tightening the screw on the Russian economy to help ensure he fails in Ukraine. There will be no let-up.