Russia attacks Ukraine: UK sanctions Russia & Europe's largest bank Sberbank

In latest development to sanctions being imposed against Russia in retaliation to its invasion of Ukraine, Britain's Treasury said that it was adding Sberbankm one of largest banks in Russia and Europe, to its list of entities sanctioned. This move comes after  UK government, on Monday, anunced that y would lock UK assets of all Russian banks, and ordered British ports to turn away Russian ships. 

On Monday, February 28, while introducing fresh sanctions against Russia,  UK promised a 'full assets freeze' on all of country's banks. Foreign Secretary Liz Truss said that freeze would take effect 'in days', as part of new legislation to squeeze Russia's ecomy for its 'unjustified aggression'.

Last week, Britain joined US and Western allies to prevent Russian Central Bank's ability to use reserves to support plummeting ruble. UK also cut selected banks from SWIFT international money transfer system. Truss added that this was only first step in a 'total SWIFT ban'. 

As Briitish Foreign Secretary spoke in Parliament, Treasury also anunced asset freezes on Russia's state development bank, VEB, and commercial banks, Otkritie and Sovcombank. Last week, sanctions were added on several Russian banks, businesses, elites, and Russian President Vladimir Putin and his Foreign Minister Sergei Lavrov.

Ukraine continues to put up stiff resistance

Meanwhile, more than 70 Ukrainian soldiers were reported dead after Russian artillery hit a military base in Ukraine's rastern Sumy region, Okhtyrka. In a related update, on Tuesday, March 1, a 40-mile (64.37 kms) convoy of Russian tanks and or vehicles threatened entry to Ukraine's capital, Kyiv. This comes a day after Russian military forces entered country's second-largest city, Kharkiv. 

Satellite ims revealed a long build-up of armoured vehicles and artillery starting 29 kilometres rth of city. While Ukraine's Ministry of Defence informed that situation around country's capital, Kyiv, remains tense and in Polissya, Putin's troops continue to resume offensive in direction of capital. It was learned that in Black Sea, due to adverse wear conditions, a naval landing operation in coming days is unlikely. 

(Im: PTI/AP)