Boris Johnson announces 'massive' sanctions to 'cripple' Russian economy after attack on Ukraine

Boris Johnson has announced a string of sanctions aimed at "crippling" the Russian economy after it launched an attack on Ukraine.

Russia began the attack on its neighbour on Thursday morning, with blasts heard and seen across widespread parts of Ukraine.

Speaking in an address to the nation earlier on Thursday, Mr Johnson insisted that the UK "cannot allow freedom to be snuffed out”.

And the Prime Minister went even further when appearing in the House of Commons, by announcing a raft of new sanctions on Russia.

"We are imposing a full freeze on VT, and to totally exclude Russian banks for the UK system. Stopping them from accessing sterling," he said.

"We are banning aeroflot from the UK. And we will introduce new trade restrictions and trade control similar to the ones in place in the U.S".

Legislation will also be introduced on Tuesday that will prohibit the ability of all Russian companies to raise finance on UK markets.

Mr Johnson confirmed that sanctions will also apply to Belarus for its role in the attack.

These new sanctions come after Ukraine's ambassador to the UK, Vadym Prystaiko called on their allies to release their own, strict sanctions.

Prystaiko had urged allies to stop buying Russian oil and gas, while also putting a ban foreign investment in Russia.

Furthermore, Prtstaiko called on the West to sanction the Russian Central Bank, as well as state-owned and private banks. He also wants to see sanctions for all rouble transactions in western banks.

He also urged for Russia to be blocked from the swift payment system and disconnected from both Visa and Mastercard.

Meanwhile, the EU have revealed a second package that will "severely" hit Russia's economy, EU Commission chief Ursula von der Leyen said.

Von der leyen said the measures would increase capital outflow, raise inflation and gradually erode Russia’s industrial basis.

Ukrainian President Volodymyr Zelenskyy said he is waiting for Ukraine's allies to impose their own sanctions on Moscow.

Sanctions in full:

• Plans to impose an asset freeze on all major Russian banks including an immediate freeze against VTB which has assets of around £154bn
• Legislation to be introduced on Tuesday to prevent Russian companies to raise finances on UK markets
• To issue sanctions against individuals, entities and their subsidiaries include Rostec - Russia's largest defence company
• Look to imminently ban Russian airline Aeroflot from landing in the UK
• To immediately suspend the use of export licences to Russia
• Legislation "within days" to prohibit a wide range of tech exports to Russia.
• Legislation to limit the amount of deposits Russian nationals will be able to hold in UK bank accounts.
• To work with G7 and NATO allies to shut off Russia's access to the SWIFT payment system
• To extend this full range of measures to Belarus
• To bring forward the Economic Crime Bill which takes action against Russians who raise funds in the UK.