UK Bans Russian Banks, EU and US Announce Sanctions Against Russia

After Russian President Vladimir Putin launched a military operation against Ukraine, The UK has announced sanctions against Russia. UK has decided to ban Russian Banks from UK’s finance system. UK’s PM Boris Johnson while condemning the Russian action in Ukraine said, “We cannot and will not just look away. Today, in consent with our allies, we’ll agree on a massive package of economic sanctions designed in time to hobble the Russian economy.”

US President Joe Biden also said, “We have now sanctioned Russian banks that together hold 1 Trillion in assets. Today we are also blocking four more major banks. Every asset they have in America will be frozen. This Includes VTB, the second largest bank in Russia. “

The European Union Ursula von der Leyen said, “We are preparing a package of massive sanctions to weaken Russia’s economic base and it’s capacity to modernise.”