Government to discuss Russia sanctions with City firms

by | Feb 23, 2022

Share this article

The government is to discuss the imposition of potentially tougher financial sanctions on Russia with key City institutions, it was reported on Wednesday.
According to the Financial Times, City minister John Glen will chair the meeting, scheduled for later Wednesday afternoon. It is understood that representatives from a number of banks will attend, including Citi, Barclays, JPMorgan and NatWest, along with the Prudential Regulation Authority and the London Metal Exchange.

Prime minister Boris Johnson is also expected to dial into the call.

On Tuesday, Johnson imposed sanctions on five Russian banks and three individuals after Vladimir Putin sent tanks into two rebel-held regions of eastern Ukraine. Johnson said it was the first tranche of a “barrage” of sanctions that the UK was prepared to impose.


However, politicians from across the house called for the government to go further sooner, and on Wednesday foreign minister Liz Truss told Sky News that the government would halt Russia selling sovereign debt in London.

The Foreign Office has already said that, should Russia not de-escalate, the UK and its allies will “effectively be isolating Russia from the global economy, and making it far more difficult for oligarchs and businesses to operate outside their own borders”.

Share this article

Related articles

Dynamic Planner now risk profiles F&C Investment Trust

Dynamic Planner now risk profiles F&C Investment Trust

Dynamic Planner, the UK’s leading risk based financial planning system, is now risk profiling the world’s oldest collective investment fund, F&C Investment Trust.  Launched in 1868, F&C Investment Trust Plc is managed by Columbia Threadneedle Investments with...

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, designed to fit perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode