UK announces sanctions on over 100 Russian individuals and entities

British Prime Minister Boris Johnson said Russian banks would be excluded from London's financial system as part of further sanctions after Moscow launched an all-out invasion of Ukraine by land, air and sea on Thursday.

"These powers will enable us totally to exclude Russian banks from the UK financial system, which is of course by far the largest in Europe, stopping them from accessing sterling and clearing payments through the UK," Johnson told parliament, adding the United States was taking similar measures.

"These powers will also enable us to ban Russian state and private companies from raising funds in the UK, banning dealing with their securities, and making loans to them. We will limit the amount of money the Russian nationals will be able to deposit in their UK bank accounts."

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