The United Kingdom on Tuesday announced its first round of sanctions against wealthy Russians and Russian banks.
Prime Minister Boris Johnson told Parliament that the sanctions target Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank, along with wealthy individuals Gennady Timchenko, Boris Rotenberg and Igor Rotenberg, CNBC reported.
The individuals will have their bank accounts in the U.K. frozen and will not be allowed to travel to the country.
The announcement comes after Russia recognized two Moscow-backed separatist regions in Ukraine and multiple reports have said that Russian troops have moved into the regions.
“This the first tranche, the first barrage of what we are prepared to do and we hold further sanctions at readiness to be deployed alongside the United States and the European Union if the situation escalates still further,” Johnson said.
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“We will not give up,” Johnson said. “We will continue to seek a diplomatic solution until the last possible moment but we have to face the possibility that none of our messages have been heeded and that Putin is implacably determined to go further in subjugating and tormenting Ukraine.”
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UK targets wealthy Russians, banks in new round of sanctions https://t.co/lO2HIInwGJ pic.twitter.com/TDZEjmAgaM
— The Hill (@thehill) February 22, 2022
So the SWIFT ban is out bc the City of London loves that New Russian money
gross https://t.co/qWhvhNnplB
— Robert E Kelly (@Robert_E_Kelly) February 22, 2022
BREAKING: The UK is sanctioning 5 Russian banks (Rossiya Bank, IS bank, General Bank, Promsviazbank, Black Sea bank) and 3 oligarchs: Igor and Boris Rotenberg, and Gennadiy Timchenko. Pretty tepid if you ask me. The oligarchs have been on the US sanctions list since 2018
— Bill Browder (@Billbrowder) February 22, 2022
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