On 22 July, after the tragedy in Ukraine where 298 people were killed, the European Union has approved a blacklist of Russian citizens who would face strict financial sanctions. Representatives of the UK government declined to identify the oligarchs that were included in the list, because leaking such information could lead to a capital leak.
British Prime Minister David Cameron approved the EU decision and encouraged other EU countries, including France and Germany, to do more and agree on more stringent economic penalties to Russia.
EU officials will gather together on Thursday and will discuss the third phase of sanctions for Russia, which will most likely include strict prohibitions for financial services, marketing, and energy export and import.
Asked whether the Russian oligarchs have already begun to take their money back from London, the representative of the British prime minister said: “Measures that were taken against particular individuals and companies are directly related to capital flows that now can be seen in Europe, including London. This is what is currently happening.”