Home Business News UK imposes sanctions on five Russian banks and ‘high net worth individuals’ as Europe faces ‘full scale war’

UK imposes sanctions on five Russian banks and ‘high net worth individuals’ as Europe faces ‘full scale war’

22nd Feb 22 1:32 pm

The British Prime Minister Boris Johnson has confirmed on Tuesday that the UK will impose sanctions on five Russian banks including three “very high net worth individuals.”

The Prime Minister told MP’s in the House of Commons the UK will now impose its prepared sanctions on Russia using “new and unprecedented powers.”

He announced sanctions on five Russian banks, Rossiayaz Bank, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank.

Johnson told the Commons this is the “first tranche” and the “first barrage” of measures to be imposed against Russia as troops are moving into separatist regions of Ukraine.

The Prime Minister told MPs “We hold further sanctions at readiness to be deployed.”

Sanctions will be applied to Gennady Timchenko, Boris Rotenberg and Igor Rotenberg as they are “very high net worth individuals.”

“Any assets they hold in the UK will be frozen, the individuals concerned will be banned from travelling here, and we will prohibit all UK individuals and entities from having any dealings with them,” Johnson added.

Johnson also said, “This is I should stress is just the first barrage of UK economic sanctions against Russia because we expect I’m afraid that there is more Russian irrational behaviour to come.

“I’m afraid all the evidence is that President Putin is indeed bent on a full-scale invasion of the Ukraine, the overrunning, the subjugation of an independent, sovereign European country and I think, let’s be absolutely clear, that will be absolutely catastrophic.”

Leave a Commment

You may also like

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]