Ukraine war: PM Boris Johnson announces sanctions against Russia in Commons. Here is what he said

He addressed MPs in the House of Commons, saying the UK will bring in the ‘largest and most severe package of economic sanctions that Russia has ever seen’.

The PM also promised to counter ‘the Kremlin’s blizzard of lies and disinformation’.

Before announcing the package of sanctions, Mr Johnson told the Commons that he had spoken to Ukrainian president, Volodymyr Zelenskyy, promising him the ‘unwavering support of the UK’.

Ukraine war: PM Boris Johnson addresses the nation following Russia’s invasion. Here’s what he said

He added that Ukraine was putting up a ‘fierce defence’ and branded Russian president, Vladimir Putin, a ‘bloodstained aggressor’.

Mr Johnson said all major Russian banks will have their assets frozen and will be excluded from the UK financial system, which will stop them from accessing sterling and clearing payments through the UK.

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He added that this includes a ‘full and immediate freeze’ of VTB bank.

Mr Johnson said legislation will stop major Russian companies and the Russian state from raising finance or borrowing money on UK markets.

As part of the sanctions announced this evening, asset freezes will be put on 100 new individuals or entities.

The Prime Minister said Russia’s national airline, Aeroflot, will be banned from landing in the UK.

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There will also be a suspension of dual use export licences to cover things, which can be used for military purposes, he told the Commons.

Within days the UK will stop exports of hi-tech items and oil refinery equipment and there will be a limit on deposits Russians can make to UK bank accounts.

The Prime Minister told Parliament this evening that similar financial sanctions will be extended to Belarus for its role in the assault on Ukraine.

The UK will bring forward parts of the economic crime bill before Easter, Mr Johnson added.

He told the Commons: “Oligarchs in London will have nowhere to hide.”

Mr Johnson also told Parliament that Russia’s shares are falling fast, with the rouble plummeting to record lows against the dollar.

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