In a powerful and coordinated transatlantic strike, the United Kingdom and United States have unleashed a major financial assault on Russian oligarchs, seizing a multi-million-pound portfolio of assets in direct response to the ongoing war in Ukraine.
The UK's National Crime Agency (NCA) announced the seizure of a lavish £4.3 million property in central London, along with a substantial sum of cash, from a prominent Russian businessman. This action is part of a sweeping joint effort with the US, which has simultaneously targeted a vast financial network valued in the billions of dollars.
Targeting the Inner Circle
The operation takes direct aim at the inner financial circle supporting the Kremlin's war effort. The US Treasury Department has specifically sanctioned Andrei Kostin, the head of VTB Bank, and his adult children. More significantly, it has moved against Bank Rossiya and its CEO, Mikhail Zadornov, a financial institution long considered to be "President Putin’s private piggy bank".
This represents one of the most substantial actions taken to dismantle the financial infrastructure propping up the Russian regime.
A Firm Message from Westminster
Home Secretary Yvette Cooper emphasised the UK's unwavering resolve, stating the seizures send a "clear warning to Putin’s cronies" that their support for the illegal invasion will not be tolerated. The UK government has positioned itself at the forefront of targeting illicit Russian finance, having now sanctioned over 2,000 individuals and entities since the conflict began.
This latest move signals a strategic shift from mere sanctions to the active seizure and potential forfeiture of high-value assets, demonstrating a new phase in the economic pressure campaign against Moscow.
