Government sources say the UK is ramping up its efforts to sanction Russia, with a stronger sanction being finalised in the coming days.
Sources have told Politico that the changes were "inevitable" after the government were faced with criticism when they outlined their initial sanctions.
Britain are reported to have drawn up a larger list of oligarchs and individuals close to Putin to impose sanctions on in their next tranche of measures.
A source told Politico that the length and seniority of the list is "significant".
On Tuesday, Britain froze the assets and imposed travel bans on three members of the Russian elite — Gennady Timchenko and Putin allies Boris and Igor Rotenberg, two long-serving associates of the regime — as well as the members of the Russian Duma and Federation Council who voted to recognize the independence of Donetsk and Luhansk.
The Telegraph reports that Russian oligarchs have been lobbying the UK Foreign Office in a bid to not get blacklisted.
As signs of further escalation of the crisis continue, The UK, US and the EU are likely to introduce further tranches of measures as they look to punish Russia.
Meanwhile, Boris Johnson promised more weapons from the UK for Ukraine to defend itself against Russia as he faced criticism over the strength of the Government’s response to Vladimir Putin.
Prime Minister Boris Johnson briefs the media during the Munich Security Conference in Germany where he is meeting with world leaders to discuss tensions in eastern Europe. Picture date: Saturday February 19, 2022.
Matt Dunham
The Prime Minister said lethal defensive weapons and other aid would be sent to Ukraine in response to the “increasingly threatening behaviour” from Russia.
Mr Putin’s decision to recognise two breakaway states in eastern Ukraine and the deployment of Russian forces there led to a co-ordinated response in the form of economic sanctions from the UK, US and European Union.
The risk of a further escalation prompted the Prime Minister to agree to the new package of support for the Ukrainian military.
“This will include lethal aid in the form of defensive weapons and non-lethal aid,” he said.
Downing Street would not provide further details on the equipment being provided for “operational security reasons”.
The UK has already sent anti-tank weapons to the Ukrainian military to help counter the threat posed by Russian forces ringed around the country’s borders.
