LONDON (Parliament Politics Magazine) – Boris Johnson has announced the “largest set of sanctions ever imposed anywhere by the government of UK” against Russia, which includes sanctions against President Putin’s former son-in-law.
Five more oligarchs, including the once youngest billionaire of Russia and former husband of Putin’s daughter, Kirill Shamalov, CEO and chairman of PSB bank Petr Fradkov, Denis Bortnikov, deputy president of VTB bank, Yury Slyusar, general director of United Aircraft CorporationĀ and Georgieva Elena Aleksandrovna, CEO of NovikombankĀ will be sanctioned, according to Downing Street.
The PM said in a statement in the Commons that over 100 businesses and individuals will be targeted in total, including “all the main manufacturers that underpin Putin’s war machine.”
Mr Johnson also stated that legislation will be introduced to limit the deposits amount Russian people can retain in UK bank accounts, as well as working with G7 and NATO partners to cut off Russia’s access to the SWIFT payment system.
The measures will take effect as soon as they are presented before parliament, which may be as early as next week for some.
Whitehall officials predicted that the collective sanctions would have a substantial economic impact, perhaps slashing Russia’s GDP by several percentage points over the period of next 12 months.
Meanwhile, leaders of the European Union agreed on a new set of sanctions aimed at Russia’s transportation, energy and financial sectors among other things.
Putin is branded by the Prime Minister as a “bloodstained aggressor.”
Mr Johnson addressed the House of Commons, saying that Putin will be judged by history and the rest of the world. He will never be able to wash his hands of Ukraine’s blood.
Despite the fact that the UK and its allies attempted every diplomatic channel until the very last minute, he is forced to believe that Putin was always determined to attack Ukraine, regardless of what they did.
Now he is recognised for what he is: a bloodthirsty aggressor bent on imperial conquest.
This horrible and brutal attempt of Vladimir Putin must end in failure, the prime minister concluded.
More sanctions against Russia are being imposed by the UK government.
The UK government’s plan of action against Russia, according to Downing Street, consists of ten elements:
- An intention to implement asset freezes on all big Russian banks, with a priority on VTB, which has Ā£154 billion in assets.
- To introduce legislation on Tuesday prohibiting all Russian companies from raising capital on UK markets.
- Sanctions will be imposed on persons, entities, and their subsidiaries, including Rostec, Russia’s largest defence business.
- Look to imminently ban the ability of Aeroflot to land in the UK
- To immediately stop the usage of export licences to Russia, such as electrical components or military truck parts.
- To introduce legislation prohibiting a wide spectrum of high-tech exports to Russia “within days.”
- Consider enacting legislation limiting the amount of money Russian nationals can deposit in UK bank accounts to Ā£50,000.
- Collaborate with G7 and NATO allies to prevent Russia from using the SWIFT payment system.
- Extend these measures to Belarus in their entirety.
- Consider pushing the Economic Crime Bill forward before the Easter break so that action can be taken against Russians who raise funds in the UK.
