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Sanctions by the UK government President of Russia, Foreign Minister

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            The assets of Russian President Vladimir Putin and Foreign Minister Sergey Lavrov will be frozen as part of the UK’s punitive sanctions regime aimed at degrading Russia’s economic and military infrastructure, the UK Foreign Office announced on Friday.

“The UK’s penalties have been deliberately coordinated with international partners to exact a significant cost on Putin and his regime in a third wave of devastating sanctions in just four days”, the Foreign, Commonwealth and Development Office said in a statement.

The new sanctions, which target Putin and Lavrov personally, would instantly freeze any UK-based assets, and UK corporations will be forbidden from delivering products, services, or assets to them in the future.

“These fresh measures send a clear message that nothing and no one is off the table”, UK Foreign Secretary Liz Truss said. Russian corporations will be barred from borrowing on UK markets, thus removing the capacity of those companies closest to Putin to raise financing in the UK. Banks subject to this policy will be unable to handle payments or access UK financial markets.

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