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Boris Johnson bans sterling clearing in bid to ‘exclude Russian banks from the UK financial system’

Johnson said 'nothing is off the table' when it comes to Russian sanctions

Boris Johnson in The Pillard Room in London
Boris Johnson in The Pillard Room in London Photo: Chris J Ratcliffe/Getty Images

The UK has banned Russia from accessing sterling clearing and payment systems as it steps up sanctions over the invasion of Ukraine.

The US will also take similar measures on dollar clearing, Prime Minister Boris Johnson told MPs on 24 February.

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