Russian economy nightmare as quartet of firms and 101 vessels sanctioned

is facing a fresh economic nightmare as measures against Russian firms have been expanded. The UK has added more than 100 ships, five individuals, and four legal entities to its blacklist, including the insurance company Soglasie.

Also subject to an asset freeze and trust services are BX Energy, Nord Axis Limited and Romarine AS. The individuals sanctioned are Etibar Eyyub, Tahir Garayev, Ahmed Kerimov, Anar Madatli and Talat Safarov, with the government alleging they benefitted from Russia by working as directors of Coral Energy Group.

The Treasury added: "The Russia (Sanctions) (EU Exit) Regulations 2019 were made under the Sanctions and Anti-Money Laundering Act 2018 (the Sanctions Act) and provide for the imposition of financial sanctions, including asset freezes and other financial and investment restrictions, on persons who are or have been involved in destabilising Ukraine or undermining or threatening the territorial integrity, sovereignty or independence of Ukraine; or obtaining a benefit from or supporting the government of Russia."

BX Energy and Nord Axis Ltd are Hong Kong firms, and Romarine AS is a Norwegian company.

According to officials, they have benefited by providing support to the Russian government through activities in sectors of strategic importance to . The Russian news service TASS reports that 101 vessels have been added to sanctions lists.

BX Energy and Nord .Axis Ltd have been involved in the trade of Russian hydrocarbons, it is claimed.

The public have been told that they must check whether they maintain any accounts or hold any funds or economic resources for the persons sanctioned and any entities owned or controlled by them.

If so, these accounts and any other funds or economic resources must be frozen.

In addition, officials demand that individuals "refrain from dealing with the funds or economic resources or making them available directly or indirectly to or for the benefit of designated persons unless licensed by the Office of Financial Sanctions Implementation (OFSI) or if an exception applies".

Finally, people should "refrain from providing trust services to or for the benefit of" the persons named, and "report any findings to OFSI, together with the information or other matter on which the knowledge or suspicion is based".

The notice added: "Where the information relates to funds or economic resources, the nature and quantity should also be reported."

Sir Keir Starmer said today that European allies "together with the US" are "calling Putin out" as nations pressure the Russian President to accept an unconditional ceasefire in Ukraine.

Speaking in Kyiv, the Prime Minister vowed allies would "ramp up sanctions" if Russian president Vladimir Putin "turns his back on peace", as he and allies backed plans for a 30-day ceasefire.