UK Prime Minister Boris Johnson on Tuesday announced that the United Kingdom would impose sanctions on five Russian banks and three Russian entrepreneurs over Moscow's decision to recognize the self-proclaimed republics of Donetsk and Luhansk.
"Now the UK and our allies will begin impose the sanctions on Russia that we have already prepared," Johnson told the parliament. The prime minister said that the five Russian banks to face sanctions are the Rossiayaz Bank, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank.
He also said that three "very high net worth individuals," including Gennady Timchenko, Boris Rotenberg and Igor Rotenberg, will have their assets in the UK frozen, and will also be banned to travel to the UK.
Boris Johnson earlier in the day had warned that UK will hit Russia with a “first barrage” of economic sanctions, warning that President Vladimir Putin is fixed on a “full-scale invasion of Ukraine”.
He was speaking soon after chairing an emergency meeting of the Cabinet Office Briefing Room A (COBRA) on Tuesday in the wake of Putin’s decision to recognise two breakaway regions in eastern Ukraine. The UK PM accused Putin of “plainly” violating Ukrainian sovereignty and “the over-running, the subjugation” of an independent, sovereign European country.
“He’s sent troops in, he’s broken international law, he’s repudiated the Minsk agreements, and torn up the understanding from Budapest in 1994 that Ukraine’s territorial integrity would be respected,” said Johnson.
“He’s completely torn up international law and we will immediately institute a package of economic sanctions, which I think his people would expect. Targeted not just at entities in Donbas, in Luhansk and Donetsk, but in Russia itself targeting Russian economic interests as hard as we can,” he said.
The COBRA meeting was held as UK Health Secretary Sajid Javid said given that tanks have been seen near one of the rebel regions of Donetsk, it can be concluded that the “invasion of Ukraine has begun”. Details of the fresh sanctions against Russia are expected to be laid out in the House of Commons soon.
The COBRA meeting follows widespread condemnation of Russia’s move, which Johnson termed a violation of international law and an “ill omen and very dark time”, indicating that things are moving in the wrong direction in the region. Downing Street said the COBRA meeting would discuss the latest developments in Ukraine and coordinate the UK response, including agreeing on a “significant package of sanctions to be introduced immediately”.
“The United Kingdom will be announcing new sanctions on Russia in response to its breach of international law and attack on Ukraine’s sovereignty and territorial integrity. There will be severe economic consequences to its actions,” UK Ambassador Barbara Woodward told an emergency Security Council meeting on Ukraine.
“This Council must be united in, calling on Russia to de-escalate immediately; condemning aggression against a sovereign nation, and defending the territorial integrity of Ukraine; calling on Russia to respect its obligations under the Charter to the peaceful resolution of disputes. Russia has brought us to the brink. We urge Russia to step back,” she said.
UK Foreign Secretary Liz Truss has confirmed the sanctions, which will use recent legislation to impose restrictions on people and organisations linked to Russia. These will be further enhanced in the event of a feared invasion of Ukraine.
Earlier this month, the UK government passed new legislation that expanded its powers to impose sanctions on those directly linked to Russian actions in Ukraine. The legislation gave the government powers to impose sanctions on Russian businesses and individuals in strategically significant sectors, such as the chemical, defence, extractives, ICT and financial services industries.
Several of the UK’s western allies, including the US, France and the European Union, made similar statements condemning Putin’s move and promising sanctions.
On Monday evening, Johnson spoke to Ukrainian President Volodymyr Zelensky to outline his grave concern and warn that he believed an invasion was a real possibility in the “coming hours and days”.
During the phone call, Johnson promised to “explore sending further defensive support to Ukraine” at the request of the country’s government, as well as detailing sanctions.
“The leaders agreed that the West needed to support Ukraine in the event of an invasion but should continue to pursue a diplomatic solution until the last possible second,” Downing Street said.
“Regardless of President Putin’s actions, the UK would be steadfast in its full support of Ukraine’s sovereignty and territorial integrity, the Prime Minister said,” it added.
