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Britain sanctions five banks and Gennady Timchenko, Johnson says -Breaking

by Mike Robinson

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© Reuters. Boris Johnson, British Prime Minister, attends a press conference in London to discuss the government’s long-term plan for coronavirus (COVID-19), pandemic, at Downing Street, London, UK, 02/21/2022 Tolga Akmen/Pool via REUTERS

Kylie MacLellan & William James

LONDON (Reuters), – Britain imposed sanctions on Tuesday against five Russian banks, and three high net worth individuals such as Gennady Tychenko. The move came after President Vladimir Putin sent troops to eastern Ukraine’s two separatist regions.

Boris Johnson, Prime Minister of the United Kingdom, stated that this was the first tranche and the first barrage from what he is prepared to do.

Johnson stated that individuals sanctioned would be banned from leaving the UK if they have assets in the UK.

Timchenko has been a close friend of Russian President Vladimir Putin. Johnson indicated that sanctioned bank include Rossiya (IS Bank), General Bank and Promsvyazbank, as well the Black Sea Bank.

Johnson said to Johnson, the British lower house. “Putin creates the pretext for an offensive of a larger scale.”

Britain threatened to block Russian companies from accessing U.S. Dollars and British Pounds, preventing them raising capital in London. Johnson also called the “Russian doll”, which Johnson describes as a monopoly on property ownership and company ownership.

Russia’s once-mighty, superpower economy has now fallen to the level of Italy’s thanks to IMF data. The nominal GDP is around $1.7 billion.

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