Ukraine: Britain’s economy is on war footing as ministers were urged to crack down on Roman Abramovich and oligarchs ahead of Rishi Sunak’s spring declaration – according to the Yorkshire Post

That Russia used its artillery to shell a nuclear power plant, starting a fire and posing a potential threat to world health was another affront to humanity as the Kremlin shows no mercy.

register to our daily newsletter

The i-Newsletter cut through the noise

But while military options are limited, as former NATO commander Colonel Bob Stewart MP pointed out this weekend, this country now expects Boris Johnson to take a far harder line against those oligarchs, like Chelsea FC owner Roman Abramovich, who have significant business interests have here while maintaining close ties to the Vladimir Putin regime.

There are calls for tougher sanctions against oligarchs like Chelsea FC owner Roman Abramovich, who is selling the Premie League club and pictured with former player John Terry.

As Shadow Chancellor Rachel Reeves, the Leeds West MP, warns, a “skeptical public could be forgiven for believing that more people with Russian connections are on the Tory donor list than Putin allies are on the UK sanctions list” if Mr Johnson and Rishi Sunak, the Chancellor, continues to hesitate.

After all, one of the few levers in the West’s arsenal is its ability to destabilize the Russian economy in hopes that this, in turn, will trigger regime change in the Kremlin. It is also crucial to offset the post-Covid UK cost of living crisis.

As petrol prices hit record highs, the energy price cap will rise from £693 to £1,971 next month; Social security will rise to pay the new health and social security tax and VAT will be brought back to the full 20 per cent rate for tourism and hospitality.

Chancellor Rishi Sunak prepares his spring declaration.

These changes, coupled with rising inflation, will cost families far more than existing measures to balance council taxes and heating bills. And with the Ukraine conflict now also an economic war, Mr. Sunak should prepare significant contingencies ahead of this month’s spring declaration.

Support The Yorkshire Post and become a subscriber today. Your subscription helps us continue to bring quality news to the people of Yorkshire. In exchange, you will see less ads on the site, get free access to our app, get exclusive members-only offers, and access to all premium content and pillars. Click here to login.

There are calls for tougher sanctions against oligarchs like Roman Abramovich, the owner of Chelsea FC who are selling the Premier League club.

About Nina Snider

Check Also

UK heads for recession as GDP falls 0.2% between July and September

B Britain’s ailing economy was headed for recession today, as the latest official data showed …