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British PM announces new sanctions on Russia

British Prime Minister Boris Johnson unveiled a package of “severe” sanctions against Russia on Thursday, targeting banks, members of President Vladimir Putin’s closest circle and the extremely wealthy who enjoy high-rolling London lifestyles.

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Western nations are coordinating action to impose tough sanctions against Russia in response to its all-out invasion of neighbouring Ukraine, where Moscow staged missile strikes on cities and poured its troops into the country.

Speaking to parliament, PM Johnson said Putin would be condemned by the world and by history for his invasion, never able to cleanse the “blood of Ukraine” from his hands.

“This hideous of the barbarous venture of Vladimir Putin must end in failure,” he told parliament when announcing the new sanctions.

More than 100 new sanctioned entities and people

“Overall we will be imposing asset freezes on more than 100 new entities and individuals on top of the hundreds that we have already announced,” PM Johnson told lawmakers. “This includes all the major manufacturers that support [Russian President Vladimir] Putin’s war machine. Furthermore, we are also banning Aeroflot from the UK,” he declared.

The government said it would impose an asset freeze on some major Russian banks, including state-owned VTB, its second-biggest bank, and stop major Russian companies from raising finance in Britain.

Since the fall of the Soviet Union three decades ago, London’s capital markets have been the favoured destination for Russian companies seeking to raise money outside Moscow.

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