The UK has slapped more sanctions on Russia’s largest bank Sberbank and banned all outward British investment into Russia.
Sberbank and Credit Bank of Moscow now have all their UK assets frozen, after similar measures were taken against other major Russian banks last month, with the pair also unable to do business in Britain.
The government also announced a ban on Russian coal imports from the end of this year, after already announcing a similar ban on Russian supplies of oil.
A statement from the Foreign Office said Russian energy would also be banned “as soon as possible thereafter”.
The new sanctions are in response to the horrific war crimes committed in the Ukrainian town of Bucha, where more than 400 civilians were slaughtered by occupying Russian troops.
Foreign secretary Liz Truss said: “Today, we are stepping up our campaign to bring Putin’s appalling war to an end with some of our toughest sanctions yet.
“Our latest wave of measures will bring an end to the UK’s imports of Russian energy and sanction yet more individuals and businesses, decimating Putin’s war machine.
“Together with our allies, we are showing the Russian elite that they cannot wash their hands of the atrocities committed on Putin’s orders. We will not rest until Ukraine prevails.”
A further eight Russian oligarchs were also sanctioned in this latest round of measures.
They include Gazprombank chief Andrey Akimov, Novatek chief executive Leonid Mikhelson and close Vladimir Putin associate Andrey Guryev.