UK preparing new Russia sanctions law

Britain will unveil new sanctions legislation next week to hit “a much wider variety” of Russian economic targets as part of efforts to deter Moscow from invading Ukraine, Foreign Secretary Liz Truss said Sunday.

The UK’s top diplomat said the draft law would widen the country’s sanctions toolbox so “any company of interest to the Kremlin and the regime in Russia” could be targeted.

“There will be nowhere to hide for Putin’s oligarchs,” Truss told Sky News.

“What I’ll be announcing later this week is improved legislation on sanctions so we can target more Russian interests that are of direct relevance to the Kremlin.

“What the legislation enables us to do is hit a much wider variety of targets, so there can be nobody who thinks that they will be immune to those sanctions.”

Relations between Russia and the West are at their lowest point since the Cold War after Moscow deployed tens of thousands of troops on the border of Ukraine.