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Rishi Sunak targets Russia with fresh banking sanctions

The UK government has joined with the US and the EU to announce new sanctions against Russia’s central bank.

It has banned British people and businesses from making transactions with the Russian central bank, its finance ministry and its wealth fund.

The move is designed to cut off Moscow’s major financial institutions from Western markets.

Chancellor Rishi Sunak it “demonstrates our determination to apply severe economic sanctions” against Russia.