Russian oligarchs in London will be hit with tough new sanctions to deter Moscow from invading Ukraine, even if it hurts the UK economy, Apostrophe reports with reference to the Independent.
As a part of the tough new sanctions regime, the ministers will target the British investments of oligarchs and businesses with links to the Kremlin.
Under plans to be unveiled to MPs today, the government will impose asset freezes and travel bans on individuals and entities that have a “strategic significance” to the Russian government. The move is being announced before a trip to the region by Boris Johnson this week during which he is expected to underline the UK’s support for Ukraine and again call for President Putin to “step back” from conflict.
WB Foreign Minister Liz Truss said that even possible damage to her country's economy would not prevent sanctions for Kremlin oligarchs.
According to her, “Londongrad”, its wealth and power, will not help Russians neutralize the West and will not abdicate Putin's aggression. However, Truss admits that economic sanctions are narrow at the moment.
"We strive to expand them so that any company of interest to the Kremlin and regime in Russia can become a target. Putin's oligarchs will have nowhere to hide, as well as companies supporting Russia," the minister said.
She also stressed that economic sanctions against Russia will not have an extremely negative impact on Great Britain, so now the most important thing is the protection of freedom and democracy, not financial troubles.
"We cannot give preference to short-term economic interests over long-term survival of freedom and democracy in Europe. This is a difficult decision that we will all have to make," Liz Truss explained her position.
In addition, the minister assured that sanctions are as inevitable as the departure of 1,000 British military personnel to Estonia and warships to the Black Sea.
She is sure that the prevention of the threat of invasion of Ukraine is the number one priority for the UK.
Earlier, Apostrophe wrote about the training of the Armed Forces of Ukraine using British NLAW grenade launchers.