Britain Says It Has Frozen 18 Billion Pounds Worth of Russian Assets

Director of the Number 10 Policy Unit Andrew Griffith walks outside Downing Street after a COBR meeting, in London on Feb. 22, 2022. Henry Nicholls/Reuters

LONDON—The British government said on Thursday it had frozen assets worth more than 18 billion pounds ($20.5 billion) held by Russian oligarchs, other individuals and businesses sanctioned over Moscow’s invasion of Ukraine.

Russia has overtaken Libya and Iran to become Britain’s most-sanctioned nation, the Office of Financial Sanctions Implementation (OFSI), part of the finance ministry, said in its annual report.