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UK Foreign Secretary Liz Truss announced on Monday other economic sanctions to mutilate Russian state-owned companies and banks.
Truss said he would pass laws to introduce new powers to “freeze” Russian banks, a measure that would also apply to Russia’s largest bank, Sberbank. There will also be a complete freeze on activities at three other Russian banks Otkritie, Sovcombank and VEB.
Legislation will stop the Russian state from increasing debt to the UK and Russian companies and more than three million in total will be barred from entering UK capital markets.
There will also be an export ban on key sectors, including microelectronics, marine equipment and navigation.
Truss said she had a list of oligarchs who would face further sanctions. She said the UK would target the families of the oligarchs, the people who work for them and the people who support them.
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