British foreign secretary Liz Truss said Russian oligarchs and key supporters of President Vladimir Putin will be targeted by UK sanctions if Russia invades Ukraine.
Insisting that the Russian president’s allies would have nowhere to hide their assets if an invasion went ahead, the Foreign Office, clearly working in lockstep with the US, threatened to seize the wealth of Putin’s inner political circle and business backers.
Truss also refused to name any individual Russians at risk of being sanctioned.
According to her, the new legislation, which will be in place by 10 February, would be the “toughest sanction regime against Russia we have ever had”, and would give the UK “the power to sanction a broader range of individuals and businesses”.
She said the package meant the UK “can target anyone providing strategic support close to Vladimir Putin”.
Truss told MPs the proposals meant the UK would be able to act in lockstep with the US. "Whether you support Russia’s aggressive actions against Ukraine, or you’re of wider significance to the Kremlin, we will have the power to sanction you," she said.
"Nothing is off the table and there will be nowhere to hide. This will amount to the toughest sanctions regime against Russia we have had in place yet, and mark the biggest change in our approach since leaving the European Union," Truss stressed.