U.K. to Set Out Law for Russia Sanctions as Soon as Thursday - Bloomberg

U.K. Foreign Secretary Liz Truss is expected to set out legislation as soon as Thursday under which the British government could impose sanctions on oligarchs in the event of a Russian invasion of Ukraine.

Truss, who is due to hold talks with her Russian counterpart Sergei Lavrov in Moscow on Thursday, will place so-called secondary legislation in Parliament, according to a person familiar with the matter. Lawmakers may need to debate the issue when they return from recess on Feb. 21.

The U.K. has threatened to sanction Russians with close links to President Vladimir Putin as soon as troops went into Ukraine, but has so far not had the legal means to do so. Russia has repeatedly denied it plans to invade.

Critics of Putin have long called on the U.K. to use the leverage it has a major financial center for Russian companies and individuals to apply pressure. Yet the issue is complicated by the relative benign approach to Russian billionaires buying up property and assets in the U.K. since the 1990s.

source: https://www.bloomberg.com/news/articles/2022-02-09/u-k-to-set-out-law-for-russia-sanctions-as-soon-as-thursday

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