Addressing lawmakers on Tuesday in the House of Commons, Prime Minister Boris Johnson said the first tranche of sanctions would target Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank.

The measures would also sanction three “very high net worth” individuals: Gennady Timchenko, Boris Rotenberg and Igor Rotenberg.

Johnson said the move to sanction Russia had arisen despite himself and several other world leaders giving Putin “every opportunity” to pursue his aims via diplomacy.