Thank you for giving a possible reason. So I’m guessing it’s a treaty thing, where if one country enacted a sanction, the other members would probably need to follow suit.
Is it like the Huawei US ban, I guess?
Yes. If you remember Article 5 of the NATO treaty: An attack on one NATO party is an attack on them all. To reinforce that fact other NATO parties participate in actions against our adversary however they see fit, which in this case is supporting the UK's sanctions against Russian tech oligarchs.
In terms of Huawei that can be more interpreted with Article 3: "In order more effectively to achieve the objectives of this Treaty, the Parties, separately and jointly, by means of continuous and effective self-help and mutual aid, will maintain and develop their individual and collective capacity to resist armed attack." The reason Huawei is banned in the United States is because their phones and commlines were being wiretapped trying to easedrop on our government infrastructure and other corporations and organizations. So the European NATO members followed suit cancelling their 5G tower upgrades with Huawei.
There's a reason NATO has stuck around decades after the Iron Curtain fell.