The new UK sanctions in brief
24-02-2022, 21:41
These are the sanctions Prime Minister Boris Johnson has just announced the UK will put on Russia:
- All major Russian banks will have their assets frozen and will be excluded from the UK financial system. This will stop them from accessing sterling and clearing payments through the UK. This includes a full and immediate freeze of VTB bank
- Legislation will stop major Russian companies and the state from raising finance or borrowing money on UK markets
- Asset freezes will be put on 100 new individuals or entities
- The Aeroflot airline will be banned from landing in the UK
- There will be a suspension of dual use export licences to cover things which can be used for military purposes
- Within days the UK will stop exports of hi-tech items and oil refinery equipment
- There will be a limit on deposits Russians can make to UK bank accounts
- He says there is potential to cut Russia out from Swift payments and "nothing is off the table"
- Similar financial sanctions will be extended to Belarus for its role in the assault on Ukraine
- The UK will bring forward parts of the economic crime bill before the Easter recess.
BBC
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