London, Thursday, 7 April 2022
The UK ordered an asset freeze and a restriction on all new foreign investment in Russia on Wednesday. Sberbank is Russia's largest bank.
The United Kingdom and the United States collaborated on the decision to penalise Sberbank.
The Foreign Office also announced that the assets of Credit Bank of Moscow had been frozen, and that all Russian coal and oil imports will be stopped by the end of 2022.
The United Kingdom sanctioned eight more Russian oligarchs on Wednesday.
Since Russia's invasion of Ukraine, the UK has imposed five rounds of sanctions.
"We are showing the Russian elite that they cannot wash their hands of the crimes committed on Putin's instructions," British Foreign Secretary Liz Truss said in a statement. We shall not stop till Ukraine is victorious."
(Written and edited by: The Decision Maker)