UK Sanctions Against Russian Banks and Billionaires

The United Kingdom imposes sanctions against Russian authorities and individuals. The measures affect five financial institutions, including the Rossya and Promsvyazbank banks, and three billionaires with close ties to President Vladimir Putin, including oligarch Gennady Timchenko.


British Prime Minister Boris Johnson says he has more “strong sanctions” ready if needed.

All assets held by the relevant authorities and individuals in the United Kingdom will be frozen. The British government has banned the three billionaires from entering the country. Johnson wants to prevent Russian companies from making money in British markets.

Johnson already announced on Tuesday morning that he would come up with a first sanction package. According to him, Russia is out for a “large-scale invasion” of Ukraine. So he said he would “hit Russia hard”.

According to the British prime minister, Moscow has violated Ukraine’s sovereignty by recognizing the two self-proclaimed pro-Russian “people’s republics” in the east of the country as independent states.

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