UK imposing sanctions on five Russian banks, three ‘high net worth’ Russian individuals
UK Prime Minister Boris Johnson has announced that sanctions are being imposed on five Russian banks and three high net-worth individuals following Russia’s further invasion of Ukraine.
Early on Feb. 22, Russian President Vladimir Putin recognized non-government controlled territories in eastern Ukraine as independent, and then immediately sent in Russian troops to occupy Ukrainian territory.
Speaking in the UK parliament’s House of Commons on Feb. 22, Johnson said that Russian Rossiayaz Bank, IS Bank, General Bank, Promsvyazbank and Black Sea Bank would be subject to sanctions.
Restrictive measures will also affect Gennady Timchenko, Igor Rotenberg, and Boris Rotenberg, who were described as “very high net worth individuals.”
Johnson said any assets they hold in the United Kingdom would be frozen, and they would be banned from traveling there. In addition, all British individuals and entities will be prohibited from doing business with these persons.
According to the prime minister, this is the “first tranche”, and further sanctions will follow if Putin goes further into Ukraine.
He added the United Kingdom would continue to seek a diplomatic solution until the last moment.
Earlier on Feb. 22, German Chancellor Olaf Scholz said he had suspended the certification process for the Russian Nord Stream-2 pipeline, effectively preventing it from operating.
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