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Britain unveils new round of sanctions against Russia

Prime Minister Boris Johnson

London, UK | Xinhua | British Prime Minister Boris Johnson on Thursday announced a new round of “severe” sanctions against Russia, aimed at excluding Russian banks from the British financial system.

Speaking to Parliament, Johnson said his country is announcing “the largest and most severe package of economic sanctions that Russia has ever seen,” including imposing a full asset freeze on Russian state-owned VTB Bank.

Furthermore, Britain will impose asset freezes on more than 100 new entities and individuals, ban Aeroflot Airline from Britain, and limit the amount of money that Russian nationals will be able to deposit in their British bank accounts.

The British government will also introduce legislation to prevent Russian companies from raising funds on British markets, and ban the export of “dual-use” equipment that can have military uses in the electronics, telecommunications and aerospace sectors, Johnson said.

On Tuesday, Britain had already announced its “first barrage” of sanctions against Russia as a response to the development of the Russia-Ukraine conflict. These sanctions targeted five Russian banks and three very high net worth individuals.

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Xinhua

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