UK promises quicker sanctions against Russian oligarchs
Outlining its amendments, the Foreign Office said the "appropriateness test" - a threshold that needs to be met when imposing sanctions on individuals - would be removed.
It is also speeding up the deadline for overseas companies to declare their true owners - from 18 months to six months. Maximum fines for non-compliance with this rule are set to increase from £500 to £2,500 per day.Mr Johnson said: "The UK has led the way with the toughest package of sanctions against Putin's regime and we're bolstering this with new powers in our arsenal to go further and faster.
"We will ramp up the pressure on those criminal elites trying to launder money on UK soil and close the net on corruption. They will have nowhere to hide."addressed to the Ukrainian people Mr Johnson said that the UK along with its allies would continue "doing everything we can to support you and impose a mountain of pressure on Vladimir Putin"."The world is turning its back on Putin and his regime," he added.
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