Further UK sanctions applied aiming to ‘degrade’ Russia’s economy

Liz Truss said the decision was aimed at “degrading Russia’s economy” as the West looks to pile financial misery on the country following its invasion of Ukraine

The Foreign Office has announced further sanctions aimed at damaging the Russian economy following the invasion of Ukraine (Kirsty O’Connor/PA)

Fresh sanctions slapped on Moscow are designed to prevent Russia from using foreign reserves to lessen the economic impact that international measures are causing.

Additional economic measures introduced by the Foreign Secretary prohibit UK individuals and entities from providing financial services to the Central Bank of the Russian Federation, as well as the Ministry of Finance and National Wealth Fund.