More sanctions against Russia have been imposed by the United Kingdom as a result of the invasion of Ukraine.

Following Russia’s invasion of Ukraine, the UK government has declared new sanctions against Russia.

On Monday, February 28, the government declared that any British entities dealing with the Russian central bank, finance ministry, or wealth fund would be barred.

It further stated that Russian corporations will be prohibited from offering transferrable securities and money market instruments in the United Kingdom.

The statement was as follows:

“The UK Government will take all necessary steps as soon as possible to impose restrictions prohibiting any UK natural or legal person from engaging in financial transactions with the CBR, the Russian National Wealth Fund, or the Russian Federation’s Ministry of Finance.”

Following Russia’s invasion of Ukraine, the UK government has declared new sanctions against Russia.

On Monday, February 28, the government declared that any British entities dealing with the Russian central bank, finance ministry, or wealth fund would be barred.

It further stated that Russian corporations will be prohibited from offering transferrable securities and money market instruments in the United Kingdom.

The statement was as follows:

“The UK Government will take all necessary steps as soon as possible to impose restrictions prohibiting any UK natural or legal person from engaging in financial transactions with the CBR, the Russian National Wealth Fund, or the Russian Federation’s Ministry of Finance.”

“A power to block selected banks from accessing Sterling and clearing payments through the UK,” the UK claimed.

“These actions indicate our resolve to impose strong economic sanctions in reaction to Russia’s invasion of Ukraine,” stated Finance Minister Rishi Sunak.

Additional sanctions against Russian financial institutions, as well as a slew of trade restrictions against Moscow, are included in the current sanctions. More designations will be announced this week, according to the United Kingdom.

The new restriction comes as Moscow’s stock exchange prepares to launch amid a currency crisis and investor exodus.

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