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Britain today imposed sanctions on five Russian banks and three oligarchs, including Genadi Timchenko, who has close ties to Russian President Vladimir Putin.
British Prime Minister Boris Johnson told parliament that the five banks are Rossiya, IS Bank, GenBank, Promsvyazbank and Black Sea Bank, which are subject to sanctions, along with three individuals, Genadi Timchenko, Igor Arkadyevich Rottenberg and Boris Romanovich Rottenberg.
"This is the first installment, the first barrage of what we're about to do," Johnson said.
"Any assets they have in the UK will be frozen and those individuals will be banned from travelling here," Johnson said of the sanctioned individuals.
Who are the three oligarchs
Timchenko, one of the founders of the Gunvor trading company, or was a major shareholder in Bank Rossiya, which was a shareholder in the National Media Group, which supported the destabilisation of Ukraine after Russia's 2014 annexation of Crimea.
Bank Rossiya supported the unification of Crimea with the Russian Federation by integrating the financial system that followed the annexation of Crimea, Britain said.
Timchenko[/B], whose fortune according to Forbes is £23.5 billion, is a close ally of Russian President Putin, as are the Rottenbergs, Johnson said.
"Boris Rottenberg... is a prominent Russian businessman with close personal ties to the Russian president" while "Igor Rottenberg is a prominent Russian businessman with close family ties to President Putin."
The US Treasury Department has also imposed sanctions on the Rottenbergs, who are billionaires and have made fortunes during Putin's administration.
Sources: RES, Reuters
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