Boris Johnson has condemned Russia for unleashing a “tidal wave of violence” on Ukraine as he unveiled new tough sanctions.
The PM today warned Vladimir Putin would achieve “pariah status” as he announced the “largest and most severe” package to date.
Mr Johnson said the measures would “hobble” the Russian economy – after his previous package was branded too timid.
He told MPs: “We will continue on a remorseless mission to squeeze Russia from the global economy piece by piece, day by day, week by week.”
US President Joe Biden also announced unprecedented sanctions, warning: “Putin is the aggressor. Putin chose this war. And now he and his country will bear the consequences... America stands up to bullies .”
Moscow’s stock market suffered its biggest one-day fall on record after measures were announced by the UK, US and European Union, and G7 allies.
Major Russian banks will be kicked out of the UK financial system and airline Aeroflot will be banned from landing in the UK. Dozens of oligarchs, including Putin’s ex-son-in-law, will be targeted by new financial sanctions.
The West also plans to target Russian oil and gas, a move that will affect energy prices at home.
Uefa agreed to take the Champions League final away from St Petersburg, which will be confirmed tomorrow.
The PM told the Commons that Putin will “stand condemned” in the eyes of history and the world – and “never be able to cleanse the blood of Ukraine from his hands”.
He added: “It’s vital for the defence of every nation that Putin’s squalid venture fails and is seen to fail.”
Mr Johnson admitted: “I’m driven to conclude that Putin was always going to attack his neighbour, no matter what we did.”
He indicated the Russian dictator could face a war crimes trial – and the UK would offer the Ukrainian government a haven. Labour backed the harsh sanctions, but urged more is done to tackle dirty money hidden in London’s financial institutions.
Leader Keir Starmer said: “For too long our country has been a safe haven for the money that Putin and his fellow bandits stole from the Russian people.”
Conservative former PM Theresa May said Russia needed to feel “the cold wind of isolation”.
The UK’s 10-point economic sanctions plan will target more than 100 businesses and individuals. Five new oligarchs being hit include Kirill Shamalov, Russia’s youngest billionaire, who was married to Putin’s daughter Katerina. Bank accounts and assets in the UK will be frozen.
A diplomatic source said: “These people are essentially persona non grata in every major Western European capital. That really bites.”
Mr Johnson is pushing for Russia to be kicked out of the Swift international payments system, which would deliver a blow to banks and the ability to trade beyond its borders.
Despite Ukraine warning those who blocked the plan would have “blood on their hands,” some EU states were resistant. In an early morning statement, Putin said he was launching a “special military operation” in response to unfounded claims of aggression from Ukraine.
He warned Western leaders they would face “consequences they have never seen” if they tried to intervene.
In a televised address, Mr Johnson added: “Our mission is clear. Diplomatically, politically, economically and eventually militarily this hideous and barbaric venture of Vladimir Putin must end in failure.”
No10 played down speculation this hinted at British boots on the ground, saying: “He was referring to the fact Ukraine will defend themselves.”
But Ukrainian ambassador Vadym Prystaiko said British kit had been used to shoot down Russian planes – and called for support from Nato.
Western officials believe Russia intends to seize a large section of Ukraine, including the capital Kyiv, and fear a large civilian death toll.
Russian ambassador Andrei Kelin was “kicked out” of the Foreign Office by Liz Truss during a heated meeting. European Commission president, Ursula von der Leyen, accused Putin of “bringing war back to Europe”.
Nato Secretary-General Jens Stoltenberg described Russia’s actions as a “blatant violation” of international law as the alliance agreed to strengthen forces on its Eastern flank, including US troops.
Mr Biden made clear his military will not be fighting in Ukraine.
But he warned Putin “wants to re-establish the former Soviet Union”.
Meanwhile, China offered a nod in support of the Kremlin’s interests.
Transport Secretary Grant Shapps has instructed the Civil Aviation Authority to ensure airlines avoid Ukraine airspace.
The UK’s ambassador in Ukraine, Melinda Simmons, repeated a call for Brits to leave the country. Ukrainians who are on work, study or visit visas in the UK will have them extended.
