00:00We're taking tough action today against the shadowed banking networks that Russia is using to fund its barbarous war in
00:07Ukraine.
00:07And we've seen terrible attacks on Ukrainian cities and civilians this week.
00:12At the start of Russia's invasion in 2022, we worked with the G7 and others to close down the traditional
00:20banking routes that Russia would have used.
00:22And since then, they've tried to find more and more elaborate ways in which to fund their war through crypto
00:29networks, through illicit finance networks.
00:31And this action today is targeting entities and individuals who are responsible for funneling billions into the Russian war machine.
00:38We won't hesitate to act. This is the third wave of these efforts to target these shadowed banking networks.
00:44And we've made very, very clear we will act to choke off Russia's war machine.
00:49We saw last week that there was the watering down of some sanctions, which the Ukrainians weren't too happy about.
00:54Are relations between the UK and Ukraine strained? And is this new set of sanctions a reaction to that disagreement?
01:01Absolutely not. The relations with the Ukrainians are very strong, as they always are.
01:06In fact, the Ukrainians have come out and strongly welcomed these measures today.
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