UK Prime Minister Boris Johnson has slapped sanctions on five Russian banks and three high-net-worth individuals, as part of the “first tranche” of sanctions against the country following its movement of troops into two breakaway Ukrainian regions.

“Today, the UK is sanctioning the following five Russian banks: Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank. And we are sanctioning three very high-net-worth individuals: Gennady Timchenko, Boris Rotenberg, and Igor Rotenberg,” Johnson told parliament on 22 February.