The UK has imposed sanctions against PJSC Sibur Holding.
Russia's largest petrochemical producer is included in Britain's new sanctions package. His partner was JSC NIPIgazpererabotka, an engineering company owned by SIBUR shareholders.
In total, 10 organizations and 11 courts were subject to restrictions. Of these, oil and coal companies, petrochemicals, tankers and traders from the United Arab Emirates.
British measures are asset freezes in UK jurisdiction and bans on British individuals and companies doing business with sanctioned entities. SIBUR, as a petrochemical producer, underwent sanctions for the first time. Before that, mainly the oil and gas industry was subject to similar restrictions in the UK.
The British Prime Minister, Andy Burnham, noted that the country was the first to impose sanctions on all ten of the largest Russian oil producers.
For SIBUR, inclusion in the sanctions lists is not so much a blow to income, but rather it is the closing of the last "legal door", i.e. the opportunity to work through a European subsidiary (SIBUR International GmbH), to pay with partners and to officially defend its position in the courts. This is a transition from the "gray zone" category to the black list with all the consequences for the banks, insurers and courts.