New wave of sanctions to hit Putin’s ‘cronies’

Friends and allies of Vladimir Putin could be targeted in a fresh wave of sanctions against Russia following the MH17 tragedy.

British Foreign Secretary Philip Hammond said the “cronies” around the Russian president could be included in measures after European leaders agreed on the need for tougher measures.

Mr Hammond acknowledged London could be affected by any restrictions on the flow of Russian money, and insisted other European countries would also have to take some of the pain of a more punitive sanctions regime.