ITV News Political Correspondent Carl Dinnen reports on the day's events, as it's announced Abramovich will sell Chelsea Football Club
Boris Johnson has refused to comment on whether Russian billionaire Roman Abramovich is being sanctioned by the UK but insisted Western measures are severely impacting the Russian economy.
The prime minister told MPs at PMQs that 275 wealthy Russians had already been sanctioned by the UK but said it is not "appropriate" for him to comment on individual cases at this stage.
Labour leader Sir Keir Starmer said the Chelsea FC owner should be sanctioned by the UK over his "links to the Russian state and his public association with corrupt activity and practices".
"We must stand up to Putin and those who prop up his regime," Sir Keir said, adding: "Last week, the PM said that Abramovich is facing sanctions. He later corrected the record to say that he isn't. Well, why on earth isn't he?"
The prime minister said he couldn't comment on individual cases but would publish a full list of all those associated with Vladimir Putin's regime who had been hit by UK sanctions.
"Be there no doubt that the actions that we've already taken, that this House has already taken, are having an effect in Moscow" and the "impact is being felt," Mr Johnson told the Commons.
He said the Russian stock market had fallen by 250 billion dollars worth of assets, which were "wiped off" by Western sanctions and the ruble (Russian currency) fell by about 40%.
He added that the Russian stock market had been unable to open for three consecutive days "thanks to the package of global sanctions, Western sanctions, that the UK has led in forcing on the Putin regime".
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A long list of oligarchs have already been sanctioned by the UK, including Putin himself, his foreign minister Sergey Lavrov and the president's former son-in-law Kirill Shamalov, who at 39 years old is Russia's youngest billionaire.
The Labour leader asked why Igor Shuvalov, Russia's former deputy prime minister, is not on the UK sanctions list when he appears on the EU's list.
He said Shuvalov owns two flats, not five minutes walk from this House. They're worth over £11 million. He is on the EU sanctions list, but he's not on the UK sanctions list. When will the prime minister sort this out?"
Mr Johnson accepted "there is more to be done" on sanctions, but said he is "proud" of measures already taken, which include a ban on all Russian airline Aeroflot planes landing in the UK.
At the start of Prime Minister's Questions Ukrainian ambassador to the UK was given a standing ovation and cheered loudly by MPs after Speaker Sir Lindsay Hoyle confirmed he was in the chamber for the session.
The PM told MPs Putin had "gravely miscalculated in his abhorrent assault on a sovereign nation" and the UN General Assembly would be demanding he "turns his tanks around".
"If instead Putin doubles down then so shall we, further ratcheting up economic pressure and supporting Ukraine with finance, with weapons and with humanitarian assistance."