Ukraine border tension: UK joins economic war against Russia, sanctions 5 Russian Banks, 3 billionaires  

The United Kingdom (UK) on Tuesday slapped joined other European countries and the United States (US) in waging economic war against Russia over recognition of separatist regions in Ukraine.

Accordingly, Britain imposed sanctions on five Russian banks and three billionaires on Tuesday.  British Prime Minister Boris Johnson described the sanctions as “the first barrage” of measures in response to Russia’s actions in Ukraine.

Johnson told the UK parliament that directive of the Russian President on deployment of troops to support the two separatist regions in Ukraine was “a renewed invasion” of UK’s western neighbour and “pretext for a full-scale offensive”.

Johnson declared: “The UK and our allies will begin to impose the sanctions on Russia that we have already prepared… to sanction Russian individuals and entities of strategic importance to the Kremlin.”

The five banks sanctioned were identified to include Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank.

The three sanctioned billionaires are Gennady Timchenko, Boris Rotenberg, and Igor Rotenberg.  It was disclosed that their assets UK will be frozen; and they will be barred from entering Britain; while all UK individuals and entities will be prohibited from having transactions with them and the banks.

Johnson told the House of Commons: “We cannot tell what will happen in the days ahead.

“But… we should steel ourselves for a protracted crisis.”

The Ambassador of Russia to Britain was earlier summoned to the foreign ministry in London “to explain” the action of Russia in Ukraine.

According to the UK foreign ministry, “We made clear to the Russian Ambassador that Russia would pay the price for its actions through further sanctions if it did not withdraw its troops.”

Johnson had maintained in parliament that further sanctions were “at readiness to be deployed” if the Russia does not withdraw its aggression.

The prime minister received overwhelming support from the MP.

President Vladimir Putin of Russian had on Monday announced the recognition of the independence of Donetsk and Lugansk regions from Ukraine. Putin farther directed the deployment of troops  to the regions for “the function of peacekeeping”.

Sanctions have been rolling in from the US and other European countries.