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UK imposes sanctions on five Russian banks in response to Ukraine invasion

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The United Kingdom says it is sanctioning five Russian banks and three wealthy individuals.

The banks include Rossiya, IS Bank, General Bank, Promsvyazbank (PSB) and the Black Sea Bank.

The development is coming after Moscow ordered troops into two breakaway regions in eastern Ukraine.

Boris Johnson, UK prime minister, disclosed this today while speaking to the House of Commons.

He said it was the “first tranche” and “first barrage” of measures in response to Russian troops moving into two separatist regions of Ukraine.

He also announced the sanctioning of three very high net worth individuals: Gennady Timchenko, Boris Rotenberg, and Igor Rotenberg.

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