Britain’s Prime Minister Boris Johnson leaves Downing Street, in London, Britain February 24, 2022. REUTERS/Peter Cziborra

Join now for FREE unlimited access to Reuters.com

Register

LONDON, Feb 24 (Reuters) – British Prime Minister Boris Johnson said Russian banks would be barred from London’s financial system under new sanctions after Moscow launched an all-out invasion of Ukraine on Thursday by land, air and maritime. Read more

“These powers will allow us to completely exclude Russian banks from the UK financial system, which is of course by far the largest in Europe, preventing them from accessing sterling and clearing payments through the UK” , Johnson told parliament, adding that the United States was taking similar action.

“These powers will also allow us to prohibit Russian public and private companies from raising money in the UK, prohibit dealing with their securities and making loans to them. We will limit the amount of money that Russian nationals can deposit into their UK bank accounts.”

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Guy Faulconbridge and Kylie MacLellan, writing by Alistair Smout

Our standards: The Thomson Reuters Trust Principles.