UK to impose sanctions on Vladimir Putin and Russian foreign minister over Ukraine invasion

What further sanctions could be taken against Russia? ITV News Political Correspondent Romilly Weeks explains why the SWIFT payment system is the focus of many politicians

The UK will impose personal sanctions against Vladimir Putin and his foreign minister over Russia's invasion of Ukraine, Boris Johnson has declared.

The prime minister told Nato leaders that the UK would "imminently" introduce sanctions - similar to the EU's - against the Russian leader and his foreign minister Sergey Lavrov, on top of the punitive economic measures announced on Thursday.

Referring to Putin’s wish to recover territory which previously fell under the USSR, Mr Johnson said Russia was “engaging in a revanchist mission to overturn post-Cold War order”.

What further action does the PM want from Nato allies in regards to sanctions against Russia? Anushka Asthana explains

The PM also warned the group that the Russian president’s ambitions might not stop there and that this was a Euro-Atlantic crisis with global consequences.

After being criticised for the UK's initial sanctions being too soft, the PM also used the meeting to promise “immediate action” over the banning of Russia from the Swift payment system to “inflict maximum pain” on the Kremlin.

The Swift payment network is pivotal for the smooth transaction of money worldwide.

His comments come after the UK sanctioned more than 100 Russian individuals and entities, firstly in an attempt to deter Vladimir Putin from invading Ukraine and later to punish him for launching an attack.

Boris Johnson said the sanctions were a "massive" package of measures "designed in time to hobble the Russian economy" after President Putin chose a "path of bloodshed and destruction” by invading Ukraine.

How has the United Nations reacted to Putin's aggression? US Correspondent Emma Murphy reports

Alongside the Russian firms and trade embargoes listed below, several extremely wealthy oligarchs were also targeted by the UK's sanctions.

Full list of sanctions issued amid Ukraine crisis:

  • The government plans to freeze all UK assets of all major Russian banks with immediate effect, including an immediate freeze on the country's biggest bank, VTB Bank.

  • Legislation will be introduced on Tuesday to prohibit all major Russian firms from raising finance in the UK and prevent the Russian state from raising sovereign debt in the UK.

  • The government has also imposed a ban on all Russian aircraft, including private jets, from landing in the UK.

  • All dual export licences on any items that could be used in the Russian military will be suspended immediately.

  • Within days all high tech exports and exports in the extractives industry (eg, oil refinery) to Russia will be prohibited.

  • Legislation will be introduced to limit deposits Russian nationals can hold in UK bank accounts.

  • The UK will work with allies to essentially shut off Russian access to SWIFT international payment system.

  • The full range of measures will be extended to Belarus given its ties to the Russian state.

  • Unexplained wealth orders will be strengthened under the economic crime bill which will be brought to Parliament before Easter recess.

A full list of oligarchs personally targeted and who they are:It is understood these individuals will have their assets frozen and be banned from entering the UK.

The oligarchs will be unable to use, move or sell anything of value they own in the UK.

  • Kirill Shamalov - At just 39 years old he is Russia's youngest billionaire and was formerly married to Putin's daughter Katerina Tikhonova

  • Pyotr Fradkov - The 43-year-old head of sanctioned Promsvyazbank, which finances Russian defence industries. He is the son of Mikhail Fradkov, a former prime minister of Russia who was chief of its foreign intelligence service

  • Denis Bortnikov - The 47-year-old deputy president of government-affiliated VTB bank, for benefiting from or supporting the Kremlin. His father Alexander Bortnikov is head of the Federal Security Service (FSB)

  • Yury Slyusar - The 47-year-old is director of United Aircraft Corporation, one of the major defence organisations which is also being sanctioned

  • Elena Georgieva - The chair of the board of Novikombank, a state-owned defence conglomerate that bankrolls Rostec

  • Gennady Timchenko - One of Russia's richest men with a fortune estimated at £14bn, the 69-year-old oligarch owns Volga Group, a holding company which specialises in investments in energy, transport and infrastructure assets

  • Boris Rotenberg - He is thought to be one of Putin's oldest friends, having known him since childhood. The 65-year-old billionaire, along with his brother Arkady trained alongside Putin in martial arts before moving into business. The brothers own construction company SGM Group

  • Igor Rotenberg - The nephew of Boris and the son of Arkady is described in UK sanctions as a “prominent Russian businessman with close familial ties" to Putin. The 47-year-old owns stakes in several Russian companies including the country's toll road operator.