UK sanctions on 5 Russian banks and 3 individuals

UK sanctions on 5 Russian banks and 3 individuals

The United Kingdom has imposed sanctions on five Russian banks and three individuals in response to President Vladimir Putin’s move on Ukraine. British Prime Minister Boris Johnson announced the ban in Parliament on Tuesday. This information has been reported on BBC Live.

The five Russian banks under sanctions are Russia, IS Bank, General Bank, Promsvayaz Bank and Black Sea Bank. Russia’s Gennady Timchenko, Boris Rottenberg and Igor Rottenberg have also been banned. These three are the richest people in Russia.

Amid ongoing military tensions with the West, Russian President Vladimir Putin on Monday recognized Donetsk and Luhansk, two regions of pro-Russian rebels in eastern Ukraine, as “independent republics.” At the same time, he announced the deployment of Russian troops as “peacekeepers” in the region. In response, the United Kingdom condemned the ban.

Russian President Vladimir Putin
Russian President Vladimir PutinPhoto: AFP
In Parliament, Boris Johnson said all assets in the UK would be confiscated from people subject to sanctions. They can’t even travel to the UK. None of the UK citizens can have commercial relations with them.

The British Prime Minister said that these are the first steps of the embargo. Some more sanctions are being prepared.

However, several MPs are worried that the ban will not work. Some say more banks and individuals should be brought under the ban. However, the Prime Minister said that this is the first step in the ban. As Russia’s aggression intensifies, so will sanctions.

Liberal Democratic Party leader Edward Davy welcomed the prime minister’s announcement. However, he called for more sanctions. He called on Putin’s allies to seize their assets and expel them from the United Kingdom.

Boris Johnson said: “The current sanctions are very strict. But the more sanctions that are in place, the tougher they will be. And we will not hesitate to impose these.