Addressing the House of Commons today, UK Prime Minister Boris Johnson, announced the “largest and most severe package of economic sanctions that Russia has ever seen,” in response to the Russia’s military assault on Ukraine.
New UK sanctions include cutting Russian banks from the British financial system, stopping them from accessing sterling and clearing payments through the UK. There also would be a limit on how much money Russian nationals could deposit in their British bank accounts.
UK government also banned Russian flag carrier airline Aeroflot from flying, from and through the UK.
“I can confirm that nothing is off the table,” Johnson added, hinting at further action down the line, that most likely would include working with NATO allies to cut Russia off from the SWIFT payment system.
UK sanctions also target over 100 entities and wealthy Russian individuals with state ties, something US President Joe Biden is also likely to put into effect today.
Similar sanctions will also be imposed on Belarus “for its role in the assault on Ukraine,” Johnson added.
In an earlier televised address to the British public, the Prime Minister had signaled new sanctions would be unveiled later in the day which, he hoped, would “hobble” the Russian economy for attacking a “friendly country without any provocation.”
“We are with you, we are praying for you and your families, and we are on your side,” Johnson said of Ukraine.