Britain follows EU with new sanctions targeting Russia's economy

This was reported on the UK government website.

The new restrictions will affect 100 sanctioned targets in the Russian military, energy, financial sectors, and those involved in the information war against Ukraine. Notably, the Russian Deposit Insurance Agency was added to the sanctions list.

"Today’s action targets 46 financial institutions that help Russian attempts to evade sanctions, as well as the St Petersburg Currency Exchange, and the Russian Deposit Insurance Agency which insures Russian banks. These new sanctions will further isolate the Russian economy and disrupt Russia’s revenue streams," the British government statement reads.

The United Kingdom and its partners are also working to tighten price caps on oil, further limiting critical oil revenues for the Kremlin's military machine.

Britain will also impose sanctions on 18 more vessels of the "shadow fleet" transporting Russian oil, as well as on fleet equipment.

• Earlier the same day, the European Union approved the 17th package of anti-Russian sanctions. It targets nearly 200 ships of the shadow fleet.