Britain details sanctions against oligarchs and ‘isolating Russian banks’

Paula Badosa condemns quarantine at Australian Open: 'Regret'

UK Foreign Secretary Liz Truss detailed the sanctions against Russia in a statement that Prime Minister Boris Johnson announced earlier. She said the “first wave” of sanctions against the country had “hit oligarchs and banks close to the Kremlin” and sent a “clear message” that London would impose huge economic costs on Russia and damage its strategic interests.

In a statement, the British government said oligarchs in Russian President Vladimir Putin’s inner circle and banks with a role in Russia’s annexation of Crimea were targeted by the sanctions. Truss says London is “ready to go much further” if Russia does not back down. The UK has threatened to restrict the ability of the Russian state and its companies to raise funds in British markets, as well as ban many high-tech exports and “isolate Russian banks from the global economy”.

According to London, Britain has confiscated assets and imposed travel bans on three Russian oligarchs linked to the Kremlin, Gennady Timchenko, Russia’s sixth-richest oligarch, and Boris and Igor Rotenberg, two longtime allies of the regime. has been put. Banks with frozen assets were Bank Rossia, Black Sea Bank for Development and Reconstruction, IS Bank, GenBank and Promsvazbank.

The UK will still impose sanctions against members of the Russian Federation’s Legislature and Council, who vote to recognize the independence of Donetsk and Luhansk, “in a major violation of Ukraine’s territorial sovereignty”. It also says that in the coming weeks it will extend territorial sanctions against Crimea to Donetsk and Luhansk and that no British person or company will be able to trade with these regions until they return to Ukrainian control. Go.

See also  Australia and US prepare 'contingency' for potential conflict in Taiwan - Tuesday Free TV

Biden talks about the crisis

US President Joe Biden will speak at 4 p.m. (GMT) on the crisis in Ukraine and Russia’s involvement in the issue, the White House said. No information was given about a possible announcement of sanctions on Russia. According to the White House, shortly after, the US president participates in a virtual event on “securring essential mineral supply chains, promoting clean energy manufacturing and creating high-paying jobs.”

About the author: Cory Weinberg

"Student. Subtly charming organizer. Certified music advocate. Writer. Lifelong troublemaker. Twitter lover."

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *