Russia will retaliate if new sanctions are imposed by Britain, according to the country’s foreign minister, Sergei Lavrov.

UK ministers last week gained powers to impose tough new sanctions on Russian oligarchs and businesses.

Prime Minister Boris Johnson has said the “very, very tough” package of sanctions is “ready to go” should Russia launch a “reckless” invasion of Ukraine.

“What we’re doing is targeting particular Russian banks, Russian companies, and making sure that we take steps, take even more steps, to unseal the facade of Russian property holdings… whether in London or elsewhere,” Mr Johnson said on Tuesday.

“Unpeel the facade of Russian ownership of companies. And also take steps to take Russian companies from raising capital on London financial markets.”

The Foreign Office said legislation laid in parliament last week would allow the UK to sanction those linked directly to Russia’s agitation over Ukraine, as well as Kremlin-linked organisations and businesses of “economic and strategic significance” to the Russian government.

This includes their owners, directors and trustees.

Ukraine-Russia crisis: World must judge Russia ‘with its own eyes’ and invasion still possible, defence secretary warns

Ex-health secretary Matt Hancock did not comply with equality duty when making top COVID appointments, High Court rules

Ukraine: Vladimir Putin says ‘of course we don’t want war’ as conflicting reports claim he has withdrawn troops from border

Defence Secretary Ben Wallace on Wednesday urged caution over Russian claims it was withdrawing troops from around Ukraine’s borders.

“What we haven’t seen is evidence of withdrawal that has been claimed by the Kremlin,” he told Sky News.

“Until we see a proper de-escalation we should all be cautious about the direction of travel from the Kremlin.”

Related posts:

Three children hurt after shooting at one-year-old’s birthday party South Africa ‘diamond rush’ stones turn out to be quartz Tokyo Olympics could be cancelled amid rising COVID cases, chief admits 100,000 will die of COVID globally between now and end of the Olympics, WHO chief predicts Men’s spending responsible for more climate-heating emissions than women’s, study finds Biden has no regrets over Afghan withdrawal as three more provinces fall to Taliban 9/11 anniversary: Twenty years on, US and the world face a painful reflection of a life-changing moment Church apologises after Italian bishop tells children Santa does not exist Tsunami alert as undersea volcano eruption causes large waves to hit Tonga Novak Djokovic visa saga: How did we get here? British girl, five, dies after being struck by skier in French Alps, according to reports Novak Djokovic arrives in Serbia after deportation from Australia