March 1, 2022
2 mins read

Truss vows to bring Russian economy to its knees

She informed the Parliament that the country has removed some of the Russian banks from the SWIFT system in order to kick them out from international finance…reports Asian Lite News

British Foreign Secretary Liz Truss, on Monday, has warned countries to face sanctions if they try to establish new trade relations with Russia. The warning from Truss when she was speaking at the Parliament on the ongoing Ukraine-Russia conflict.

The Foreign Secretary said that the country has been keeping a close eye on those countries who were seeking to make profits from gaps left in the trade after several European Union and Western countries imposed stringent sanctions on Russia– both politically and economically– for the action taken against Kyiv. “Those countries seeking to establish business ties with Russia could face severe sanctions,” she said.

“Russian President Vladimir Putin must lose. We are doing everything we can to stop him, and to restore Ukraine’s sovereignty and territorial integrity. We’ll do this by backing Ukraine against unjustified aggression; by degrading the Russian economy and stopping it from funding Putin’s war machine; and by isolating Putin on the world stage,” she added.

Further, she informed the Parliament that the country has removed some of the Russian banks from the SWIFT system in order to kick them out from international finance.

“This is the first step towards a total SWIFT ban. Our collective action against Russia’s Central Bank will prevent them from deploying their international reserves to mitigate the impact of our sanctions. We are also launching a joint task force to hunt down the assets of oligarchs,” stressed Truss.

Notably, the UK had on Saturday imposed several sanctions on Putin and Russian Foreign Minister Sergey Lavrov. It also barred Russian airlines and private jets from using the country’s airspace. “Sanctions will devastate Russia’s economy and targets Vladimir Putin directly and his inner circle including Sergey Lavrov,” she said. “More than 100 companies and oligarchs at the heart of Putin’s regime have been hit with sanctions worth 100s of billions of pounds, asset freezes and travel bans,” she added.

Notably, Russian troops engaged in a deadly war with its neighbouring country, Ukraine on Thursday. Since then, they have reportedly captured several strategic locations in Ukraine.

According to the data presented by Ukraine’s Interior Ministry, at least 352 Ukrainian civilians have died in the Russian invasion including 14 children. On the other hand, Ukrainian Ambassador to United Nations, Sergiy Kyslytsya, during the UNGC meeting, claimed nearly 4,300 Russian troops killed and over 200 were taken as prisoners of war– a claim that Russia denied.

ALSO READ-Death of 10-year-old Polina catches the world’s attention

Previous Story

Boris offers visas to Ukrainians with kin in Britain

Next Story

4th Emirati-French Business Engagement Summit opens

Latest from -Top News

India Rising, Pakistan Crumbling

Pakistan is on the verge of economic collapse and is surviving on IMF loans, with its forex reserves down to $15 billion…reports Asian Lite News While Pakistan has threatened to respond forcefully

Israel backs India’s ‘Operation Sindoor’

The military operation struck camps and logistical hubs linked to terror groups held responsible for orchestrating the Pahalgam attack…reports Asian Lite News Israel has voiced strong support for India’s right to defend

70 Terrorists Killed in Indian Retaliation

The targets were selected based on “credible intelligence input” and focused on “dismantling terrorist infrastructure and disabling terrorists…reports Asian Lite News In a powerful response to the April 22 terror attack in

India Strikes Deep, Flattens JeM Base

Once a key base for terrorist operations, the site has been reduced to rubble, signalling a strong response to ongoing cross-border threats…reports Asian Lite News In a significant counter-terrorism operation on Wednesday,

Retaliation Looms, Pakistan Alerts UN

On Wednesday, India retaliated against Pakistan for the terrorist attack last month that killed 26 people at Pahalgam in Kashmir…reports Asian Lite News Pakistan has signaled its intent to escalate military action
Go toTop

Don't Miss

British MPs Vote In Favour Of Assisted Dying Bill

After five hours of debate in the House of Commons

Labour’s Triumph Nears

Elected to Parliament in 2015 for the first time at