The package includes freezing of funds, restrictions and closure of access to the financial system of the City
British Prime Minister Boris Johnson has announced a series of measures that he presented in Parliament as “the largest and most severe sanctions that have ever been applied to Russia.” He failed, however, to get the leaders of the Group of Seven to approve his proposal to close Russian companies and institutions access to the Swift international payment system.
The ten measures listed include the freezing of funds from VTB, the second largest among financial services groups in Russia. New government powers will be included in a new law, which will allow the Russian government and banks to be isolated from the financial system of the City of London, the largest in Europe. The airline Aeroflot is prohibited from entering British airspace.
He announced the prohibition of carrying out transactions in the United Kingdom to five businessmen – one of them the ex-son-in-law of Vladimir Putin -, which would be a preview of a list of one hundred. Among the targets of that measure will be some more well-known personalities, according to spokesmen for Johnson. The amount of money that Russian citizens can deposit in British banks will also be limited.
Another objective is to damage Russian industry, prohibiting the export of products that may have military use, of high-tech components that directly affect the production of weapons, the electronics, communications and energy sectors. The Government will modify the Law of the Mercantile Registry, which will include the creation of one dedicated to foreign owners. Johnson assured that his government will not accept a “gradual normalization” of the invasion: “Not now, not in the coming months, not in years,” he said.
#London #initiates #greatest #sanctions #applied #Russia