'Putin must fail': New sanctions imposed on Russia after Ukraine invasion
manchestereveningnews.co.ukNew sanctions have been announced targeting Russia's central bank. The moves come after the Central Bank of the Russian Federation (CBR) doubled its key interest rate following a 30 per cent slump in the rouble prompted by sanctions from the West.
Today (Monday) Prime Minister Boris Johnson and his Chancellor Rishi Sunak trumpeted further measures the UK, US and the European Union were taking to stop the Kremlin plundering foreign reserves to mitigate the effect of existing sanctions.
The new measures ban anyone in the UK from doing any business involving the CBR, the Russian National Wealth Fund, and the Ministry of Finance of the Russian Federation, according to the Treasury.
Other Russian financial institutions are also being targeted while Russian companies are also being stopped from dealing in the money markets in the UK, it said.
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