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14 maltatoday | WEDNESDAY • 23 FEBRUARY 2022 NEWS UKRAINE CRISIS Five Russian banks and three oligarchs targeted in UK sanctions on Moscow GERMANY has halted the approval of the Nord Stream 2 gas pipeline in response to Russia's actions in Ukraine. Chancellor Olaf Scholz said the country has ordered the withdrawal of a key document needed for certifi- cation of the pipeline from Russia. It comes after Russian President Vladimir Putin de- clared that he recognises the independence of two separatist-held regions in eastern Ukraine - Donetsk and Luhansk - and sent in troops. The pipeline bringing natural gas from Russia to Germany has long been criticised by the US and some European countries who argue that it increases Eu- rope's reliance on Russian energy supplies. Mr Scholz said his government had decided to "reas- sess" the certification of Nord Stream 2, which hasn't begun operating yet, in light of the latest develop- ments. He had previously been hesitant about committing the pipeline to any sanctions package, despite long- standing pressure from Ukrainian officials. Germany halts approval of Nord Stream 2 pipeline from Russia over Ukraine THE UK is sanctioning five Rus- sian banks and three oligarchs, freezing their UK assets and banning travel to Britain, Boris Johnson has announced. The prime minister told the House of Commons it was the "first tranche" and "first barrage" of measures, in response to Rus- sian troops moving into two sep- aratist regions of Ukraine. "We hold further sanctions at readiness to be deployed," John- son told MPs, as he warned of a "protracted crisis" in Ukraine. The five Russian banks being targeted are Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank. The PM also said sanctions would be applied to billionaires Gennady Timchenko, Boris Rotenberg and Igor Rotenberg as three "very high net worth in- dividuals". "Any assets they hold in the UK will be frozen, the individ- uals concerned will be banned from travelling here, and we will prohibit all UK individuals and entities from having any dealings with them," Johnson said. Timchenko is a major share- holder in Rossiya, while the Rotenbergs are described by the Foreign Office as having close ties to Russian President Vladimir Putin. Boris Rotenberg is a major shareholder of SMP Bank, while Igor Rotenberg is invested in Russia's transport sector. All three have been on the US sanctions list for a number of years as associates of Putin. The PM addressed the Com- mons after chairing a meeting of the government's emergency COBRA committee at 6.30am this morning. Putin on Monday night rec- ognised two breakaway areas of eastern Ukraine as independent states and ordered Russian forc- es to carry out "peacekeeping" duties in the Donetsk and Lu- hansk regions. Johnson warned that Russian President Vladimir Putin was "bent on a full-scale invasion" of Ukraine. The PM said Russia and Pu- tin had now "plainly" violated Ukrainian sovereignty and "com- pletely torn up international law". Downing Street said the UK's new sanctions against Russia were part of a "coordinated" ap- proach to the Ukraine crisis to- gether with the US and EU. On Tuesday, Germany an- nounced it had halted the ap- proval of the Nord Stream 2 gas pipeline, which runs under the Baltic Sea from Russia to Ger- many, in response to Putin's ac- tions over Ukraine. The PM has frequently urged European economies to end their reliance on Russian gas and oil. Russia's ambassador to the UK was summoned to the Foreign Office on Tuesday morning. Boris Rotenberg pictured with Vladimir Putin in 2019 The Nord Stream 2 gas pipeline has long been criticised by the US and some European countries