[Epoch Times, February 25, 2022](Epoch Times reporter Xia Yu comprehensive report) British Prime Minister Boris Johnson announced on Thursday (February 24) afternoon local time that as part of further sanctions against Russia, the United Kingdom will impose sanctions on Russia. 100 individuals and entities. Russian President Vladimir Putin warned his country’s business community that the Russian economy would be constrained.
Speaking to the British Parliament, the prime minister said the UK was announcing “the largest and toughest sanctions package ever against Russia”.
Johnson unveiled a slew of tough penalties, including freezing the assets of all major Russian banks and a plan to ban Russian companies from raising capital in the UK market. The sanctions include an immediate ban on exports of dual-use goods to Russia and plans to limit the amount Russian nationals can deposit in UK banks.
Johnson said an asset freeze would be imposed on Russian state-owned bank VTB following sanctions on five Russian banks on Tuesday. “These measures will allow us to completely exclude Russian banks from the UK financial system,” Johnson said.
Russian state-owned and private companies will also be banned from “raising capital in the UK, trading their securities and making loans to them”. The assets of a hundred individuals and entities will be frozen, Johnson said, adding that the sanctions included targeting “all the major manufacturers of Putin’s war machine.”
“Sanctions will also apply to Belarus, which played a role in the attack on Ukraine,” Johnson added.
Johnson also said the UK hopes to introduce legislation “early next week” to ban the export of all dual-use items to Russia, including “electronics, telecommunications and aerospace (products).”
Johnson stressed that the sanctions would “limit Russia’s military, industrial and technological capabilities for years to come”. The UK will also take measures against Aeroflot, Russia’s national carrier, he said.
UK pushes to exclude Russia from SWIFT
As far as international finance is concerned, Johnson had earlier pushed to exclude Russia from the international SWIFT payments system during a conference call with G7 leaders, according to his spokesman, Max Blain. “Nothing is impossible,” Johnson said in the House of Commons.
SWIFT is a high-security payment network connecting thousands of financial institutions around the world.
Earlier on Thursday, CNN reported that the European Union had not yet decided whether to isolate Russia from SWIFT.
An EU diplomat told reporters at a briefing that Tuesday’s package, combined with a new one set to take effect on Friday, would “really focus on hitting the leadership in Moscow and those around Putin, those who profited from the war. people”.
EU leaders are expected to discuss the sanctions at an emergency summit in Brussels on Thursday night.
“We want to have the largest possible package for the (Russian) industrial sector, export controls, finance, maybe visa policy. SWIFT is one element, but it’s not the focus,” the diplomat told reporters.
The diplomat stressed that SWIFT was already “on the table” and would still be considered whether it was included in the new package or not.
Given that such support also affects European companies and economies, some countries in Europe have been very cautious.
Putin warns Russian business community: economy will be restricted
Russian President Vladimir Putin has warned Russian business leaders that he expects the Russian economy to be “constrained” but said Russia has taken “necessary measures”.
Putin said in remarks broadcast on state television on Thursday: “I want to say first – the most important thing, so you all understand – what is happening is necessary measures. They have not given us any other action. opportunity. They create such a risk in the security space that it is impossible for us to respond differently.”
Putin said Russia remained part of the global economic system, but he warned the Russian economy would be further “constrained” and called on businesses to “solidarity” with the government.
“In my opinion, our partners should understand this and not set the task of driving us out of this system (SWIFT). However, for political reasons, these restrictions will happen,” Putin said.
Responsible editor: Lin Qing#