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Liz Truss vowed to derail Vladimir Putin’s ‘war machine’ with a sweeping new set of sanctions – as the US targeted two of his daughters.

The Foreign Secretary froze the assets of Russia’s biggest bank, banned all UK investment in the country and pledged to terminate coal and oil imports by the end of the year.

She slapped asset freezes and travel bans on eight more oligarchs who run major Russian industries and have links to the Kremlin – some of whom have homes in London.

The fifth round of UK measures since the invasion of Ukraine began six weeks ago came as the US sanctioned two of Putin’s daughters amid suspicions that his fortune is hidden away with family members.

Liz Truss vowed to derail Vladimir Putin¿s ¿war machine¿ with a sweeping new set of sanctions ¿ as the US targeted two of his daughters

Liz Truss vowed to derail Vladimir Putin¿s ¿war machine¿ with a sweeping new set of sanctions ¿ as the US targeted two of his daughters

Liz Truss vowed to derail Vladimir Putin’s ‘war machine’ with a sweeping new set of sanctions – as the US targeted two of his daughters

US President Joe Biden announced sanctions were being imposed on Putin¿s daughters ¿ Katerina Tikhonova and Maria Vorontsova (pictured) - amid suspicions that his fortune is hidden away with family members

US President Joe Biden announced sanctions were being imposed on Putin¿s daughters ¿ Katerina Tikhonova and Maria Vorontsova (pictured) - amid suspicions that his fortune is hidden away with family members

US President Joe Biden announced sanctions were being imposed on Putin’s daughters – Katerina Tikhonova and Maria Vorontsova (pictured) – amid suspicions that his fortune is hidden away with family members

Miss Truss, who will Thursday urge her Western counterparts to keep up the pressure, said: ‘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.’

Boris Johnson echoed her words, saying: ‘Today the UK steps up its stringent package of sanctions on Putin’s regime. We will not let Russia’s appalling crimes go unnoticed or unpunished. Ukraine must prevail.’

US President Joe Biden announced sanctions were being imposed on Putin’s daughters – Katerina Tikhonova and Maria Vorontsova – along with key members of Russia’s security council. The US said they were targeted ‘for being the adult children of Putin, a person whose property and interests in property are blocked’.

Miss Tikhonova was described as ‘a tech executive whose work supports the GoR [Russian government] and defence industry’. The announcement said Miss Vorontsova ‘leads state-funded programmes that have received billions of dollars from the Kremlin toward genetics research and are personally overseen by Putin’.

Miss Vorontsova, 36, is Putin’s eldest child and believed to be an expert in rare genetic diseases in children.

Miss Tikhonova, 35, is also a scientist and was once a talented acrobat.

A US official said: ‘We believe that many of Putin’s assets are hidden with family members and that’s why we’re targeting them.’

The UK’s latest actions to destabilise the Russian economy include a full asset freeze on Sberbank – which holds a third of Russia’s total banking assets – in co-ordination with the US. The Credit Bank of Moscow was also targeted, bringing the total number of banks sanctioned by Britain to 18.

All new outward UK investment in Russia – worth £11billion in 2020 – was banned in what the Government said was another ‘major hit to the Russian economy’.

And by the end of 2022, all imports of Russian coal and oil will cease, with gas following ‘as soon as possible thereafter’.

Imports of Russian iron and steel will be banned from next week along with high-tech UK exports, in the hope this will damage Putin’s military capabilities.

The UK¿s latest actions to destabilise the Russian economy include a full asset freeze on Sberbank ¿ which holds a third of Russia¿s total banking assets ¿ in co-ordination with the US

The UK¿s latest actions to destabilise the Russian economy include a full asset freeze on Sberbank ¿ which holds a third of Russia¿s total banking assets ¿ in co-ordination with the US

The UK’s latest actions to destabilise the Russian economy include a full asset freeze on Sberbank – which holds a third of Russia’s total banking assets – in co-ordination with the US

Eight oligarchs were targeted, bringing the number of individuals sanctioned to 82, with assets estimated at more than £170billion.

They included fertiliser magnates Moshe Kantor, who has a house in north London, and Andrey Guryev, who owns the capital’s second-largest family home.

But Labour foreign affairs spokesman David Lammy said: ‘The Government still needs to go faster and harder on sanctions against Putin’s barbaric regime. It is inexcusable that several previous announcements still have not been implemented.

‘Weeks after both measures were promised, there is still no ban on the export of luxury goods or limits on Russians depositing money into UK bank accounts. There are still loopholes around trusts and ownership thresholds. Talking tough without delivering is unacceptable.’

Fresh action is likely today as G7 foreign ministers meet in Brussels, where Miss Truss will call for efforts to end dependency on Russian energy to be sped up.

Meanwhile, Moscow has vowed to take action against British media in retaliation for the UK targeting state broadcaster RT.

Source: Daily Mail

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