Boris Johnson has said that the UK is ready to 'intensify' its sanctions against Russia, as the Russian invasion of Ukraine rumbles on.
At a press conference in the Polish capital of Warsaw, the prime minister condemned Russian president Vladimir Putin's invasion of Ukraine as he described the 'unfolding disaster' in Europe.
Johnson then announced that the UK is prepared to keep imposing sanctions on the Kremlin.
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The news comes after the European Union (EU), US and UK all imposed a spate of severe sanctions against Russia following Putin's invasion.
Johnson said that while the UK's current sanctions against Russia — which target banks and oligarchs — were having a dramatic effect, he is 'ready to intensify and to keep going [with the sanctions] for as long as it takes'.
The prime minister then went on to condemn Putin's use of 'barbaric and indiscriminate tactics against innocent civilians' in Ukraine.
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However, Johnson noted that Putin has underestimated the determination of Ukrainians and the 'unity' of those in the West to acting in retaliation to the continued invasion.
He said, 'I think he has inspired and mobilised not only his own people, he is inspiring and mobilising the world in outrage at what is happening in Ukraine.'
News of the UK potentially intensifying sanctions comes following Russia being cut off from the SWIFT network on Saturday, February 26.
SWIFT is a global banking system, which is designed to ensure the smooth running of monetary transfers across the world.
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A joint statement from the EU, US and UK said, 'We stand with the Ukrainian government and the Ukrainian people in their heroic efforts to resist Russia’s invasion,' as per the Independent.
It went on to say that because of the continued invasion, the countries were resolved to continue 'imposing costs' on Russia, which included the decisions regarding SWIFT.
The countries stated they hoped the sanction would 'ensure that [some Russian] banks are disconnected from the international financial system and harm their ability to operate globally'.
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By limiting the country's use of SWIFT, the smooth running of import and export transactions will be disrupted, which could cut off revenue sources for the Russian government.
The value of Russia's currency dropped to a record low yesterday, February 28, after the country was cut off from SWIFT.
It dropped nearly 26% to trade at 105.27 per dollar, down from about 84 per dollar late on Friday, in a shift that could cause inflation to surge and place strain on Russia's financial system.
If you would like to donate to the Red Cross Emergency Appeal, which will help provide food, medicines and basic medical supplies, shelter and water to those in Ukraine, click here for more information
Topics: World News, Russia, Ukraine, Vladimir Putin, Boris Johnson
Shola Lee