By Gerri Peev Damage to the British economy from trade sanctions against Russia would be a 'price worth paying', William Hague said yesterday. Travel bans and asset freezes against Moscow's 'bullying' behaviour towards Ukraine were planned, the Foreign Secretary said. America has admitted that the sanctions will have more impact on the EU than on the US – Europe buys much of its gas from Russia – and many fear London, where Russian oligarchs have invested billions, will suffer. Foreign Secretary William Hague has said travel bans and asset freezes against Moscow's 'bullying' behaviour towards Ukraine were planned Mr Hague said that despite this 'more far-reaching measures' were being prepared that would have a fundamental impact.
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Foreign Secretary says damage to UK economy is worth it
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America admits sanctions have more impact on EU than on US
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Many fear London, where Russian oligarchs invest billions, will suffer
Those expected to be penalised include the companies controlled by the @placeholder President's inner circle and the Russian defence industry.