AGL 38.05 Increased By ▲ 0.48 (1.28%)
AIRLINK 131.20 Decreased By ▼ -1.30 (-0.98%)
BOP 5.59 Decreased By ▼ -0.05 (-0.89%)
CNERGY 3.79 Increased By ▲ 0.02 (0.53%)
DCL 8.75 Decreased By ▼ -0.12 (-1.35%)
DFML 40.82 Decreased By ▼ -0.18 (-0.44%)
DGKC 88.02 Decreased By ▼ -2.14 (-2.37%)
FCCL 35.12 Increased By ▲ 0.04 (0.11%)
FFBL 66.00 Decreased By ▼ -0.50 (-0.75%)
FFL 10.34 Increased By ▲ 0.19 (1.87%)
HUBC 108.71 Increased By ▲ 2.31 (2.17%)
HUMNL 14.10 Increased By ▲ 0.70 (5.22%)
KEL 4.81 Decreased By ▼ -0.05 (-1.03%)
KOSM 6.84 Decreased By ▼ -0.01 (-0.15%)
MLCF 41.42 Decreased By ▼ -0.38 (-0.91%)
NBP 59.53 Increased By ▲ 0.95 (1.62%)
OGDC 180.61 Decreased By ▼ -0.64 (-0.35%)
PAEL 25.43 Decreased By ▼ -0.27 (-1.05%)
PIBTL 5.89 Increased By ▲ 0.06 (1.03%)
PPL 145.25 Decreased By ▼ -3.15 (-2.12%)
PRL 23.28 Increased By ▲ 0.06 (0.26%)
PTC 15.25 Increased By ▲ 0.01 (0.07%)
SEARL 67.89 Decreased By ▼ -0.90 (-1.31%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.75 Decreased By ▼ -0.25 (-0.69%)
TPLP 7.45 Increased By ▲ 0.05 (0.68%)
TREET 14.10 Decreased By ▼ -0.14 (-0.98%)
TRG 50.51 Decreased By ▼ -0.34 (-0.67%)
UNITY 26.40 No Change ▼ 0.00 (0%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,764 Decreased By -4.1 (-0.04%)
BR30 29,497 Increased By 97.1 (0.33%)
KSE100 91,789 Decreased By -149 (-0.16%)
KSE30 28,631 Decreased By -112.5 (-0.39%)

LONDON: Britain said Tuesday it was adding top lender Sberbank to its list of Russian entities sanctioned over the invasion of Ukraine, and warned that the costs would only increase for the Kremlin.

The Treasury updated its sanctions list to show the designation of Public Joint-Stock Company Sberbank, whose European arm is already tottering after it was sanctioned by the EU.

The move comes after the government on Monday said it would freeze the UK assets of all Russian banks, and ordered British ports to turn away Russian ships.

Deputy Prime Minister Dominic Raab said the West's sanctions, including a freeze on the assets of Russia's central bank, would cause oligarchs to intensify pressure on President Vladimir Putin.

"That will starve Putin's war machine and will also put pressure on many of the oligarchs who need access to the international system and who will apply pressure on Putin," he told BBC television.

The sanctions were not meant to target the Russian people, Raab said, after many banks saw lengthy queues of people trying to withdraw their savings and convert them into foreign currency.

"But it's inevitable that Russia's and Putin's misadventure, his catastrophic decision, will be disastrous for the Russian people," the British minister said.

"It will show them the economic cost to them of getting bogged down in this unwarranted, unjustifiable war."

Comments

Comments are closed.