Great Britain imposes new sanctions on Russian banks, oligarchs, high-tech exports restricted

Patria
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Great Britain imposes new sanctions on Russian banks, oligarchs, high-tech exports restricted

British Prime Minister Boris Johnson announced the latest sanctions against Russia, saying that the Ukrainians are offering "fierce resistance" and calling Vladimir Putin a "bloody aggressor".

He announced that all major Russian banks will face a complete asset freeze in Great Britain. The Prime Minister also promises legislation next week that will stop major Russian companies from depositing and withdrawing large amounts of money in the UK.

There will be limits on the amount Russians can deposit in banks in Great Britain, with asset freezes for about 100 more people.

"Aeroflot airline will be banned from entering Great Britain, he says, while there will be "stricter export controls" for technology sold to Russia. Similar measures will be introduced for Belarus, says the Prime Minister.

"Oligarchs in London will have nowhere to hide," he adds.

List of sanctions:

- All major Russian banks will have their assets frozen and will be excluded from the UK financial system. This will prevent them from accessing sterling and clearing payments through the UK. This includes a full and immediate freeze of VTB bank.

- Legislation will prevent major Russian companies and the state from raising finance or borrowing money on UK markets.

- Assets of 100 new individuals will be frozen.

- Aeroflot airline will be banned from landing in Great Britain.

- Export licenses for dual-use goods, which include equipment that can be used for military purposes, will be suspended.

- Within days, Great Britain will halt exports of high-tech goods and oil refinery equipment.

- There will be a limit on deposits that Russians can make into bank accounts in Great Britain.

- The UK intends to "work with allies" to close off Swift payments, but "that is a challenge," Johnson said.

Similar financial sanctions will be extended to Belarus due to its role in the attack on Ukraine.

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