The US and the UK are preparing an unprecedented retaliation for Putin: A sanction that has not been here before TVNOVINY.sk – TVNOVINY.sk

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They will implement it if Russia invades Ukraine.

Should the Kremlin decide to invade Ukraine, the United States and Britain could block Russian companies from accessing dollars and pounds. This was stated on Sunday by the British Prime Minister Boris Johnson. TASR reports on the basis of reports from Reuters and the BBC server.

The United States and Britain have warned several times that Russia could attack Ukraine in a short time, which, according to both London and Washington, will be the biggest conflict since the end of World War II. Russia denies plans to invade Ukraine.

Johnson had previously warned of possible sanctions if Russia attacked Ukraine. He now said that their range could be much larger than originally said. “We are ready to go even further with our American friends and prevent them from trading in pounds and dollars,” he told the BBC, adding that such a move would be an extremely severe blow to Russian companies.

On the other hand, he questioned whether the threat of sanctions would be enough to deter Russian President Vladimir Putin, as he said Putin might not be logical. “At the moment, we must also accept the fact that Vladimir Putin probably does not think logically and does not see the impending disaster,” the British prime minister said.

Given that Russia is one of the world’s largest exporters of oil, gas and metals, with these commodities being overwhelmingly traded in dollars, blocking Russian companies’ access to dollar markets could have serious consequences for them. However, in recent years, following the imposition of sanctions on Russia following the annexation of the Crimean peninsula, Putin called for a reduction in Russia’s dependence on dollar transactions. Even with the latest major energy contracts with China, payments will be made in euros. In addition, in 2019, the head of Russia’s largest oil company, Rosneft, Igor Sechin reported that the company had fully switched from dollars to euros in its contracts to protect its transactions from US sanctions.