UK sanctions Russian National Reinsurance Company, Rosfinmonitoring chief

MOSCOW. Nov 8 (Interfax) - The United Kingdom has put the Russian National Reinsurance Company (RNRC) and the head of the Russian Federal Financial Monitoring Service (Rosfinmonitoring) on its updated sanction list published on the government website on Wednesday.

The RNRC is a subsidiary of the Bank of Russia. After traditional Western reinsurance companies left Russia in spring 2022, the RNRC acquired their shares in reinsurance contracts and became a monopolist on the Russian market.

The UK has also imposed sanctions on Rosfinmonitoring chief Yury Chikhanchin starting November 8.

In addition, following the United States, the UK has sanctioned the Russian Union of Industrialists and Entrepreneurs.