Question to the Foreign, Commonwealth & Development Office:

To ask His Majesty's Government whether they will list all Russian nationals with more than £1 million in assets in the United Kingdom who are currently subject to sanctions.

Between February 2022 and October 2023, £22.7 billion in frozen funds had been reported to the Office of Financial Sanctions Implementation (OFSI) in relation to the Russia sanctions regime. This is a cumulative total of assets reported as OFSI do not disclose the value of any funds held by particular designated persons or entities. OFSI intends to publish its 2023-2024 Annual Frozen Asset Review this spring 2025.

An asset freeze does not involve a change in ownership of the frozen funds or economic resources, nor are they transferred to HM Treasury.

It would not be appropriate to comment on future designations or the reasons why an individual is not currently designated. The UK does not hold a consolidated list of Russian nationals with more than £1 million in assets.

To date, the UK has sanctioned over 2200 individual and entities under the Russia regulations, over 2000 of which were sanctioned following Russia's illegal invasion of Ukraine.