Ministers have announced a ban on services exports to Russia, including management consulting, accounting and public relations but excluding legal professions.
In the latest tranche of sanctions from foreign secretary Liz Truss, Russian businesses will no longer be able to do businesses with UK professional services firms.
Many businesses have already cut connections with the country, with the Big 4 accountants – Deloitte, EY, KPMG and PwC – all suspending work with Russian clients.
The UK makes up 10 per cent of Russian imports in sectors such as accountancy and PR services, the government said on Wednesday.
The ban does not apply to the legal profession, with UK lawyers still able to work for Russian clients. However, many law firms declared they had severed ties with Russian partners when Russia invaded Ukraine earlier this year.
It comes as new laws obligate social media and internet services firms to take action to block content from RT and Sputnik, as ministers aim to clamp down on disinformation
Key figures at Channel One, a Russian state-owned outlet, have been sanctioned, including war correspondents working with Russian forces.
“Doing business with Putin’s regime is morally bankrupt and helps fund a war machine that is causing untold suffering across Ukraine,” foreign secretary Liz Truss said.
“Cutting Russia’s access to British services will put more pressure on the Kremlin and ultimately help ensure Putin fails in Ukraine.”
Other service sectors that will be excluded from the fresh sanctions are understood to include software development and cloud services, according to The Guardian newspaper.
UK consultancy firms ceased services to Russia after the invasion of Ukraine and have since made “rapid changes” to their operations in the country, Tamzen Isacsson, chief executive of the Management Consultancies Association (MCA), said.
“The amount of services exported previously to the country was very small and it was not a major foreign market for UK management consultancy services. Firms have been assisting multinational global clients with making rapid changes to their operations in light of the new rules over the last month and giving them essential advice on how to cease operations in the country,” Isacsson added.