Boris Johnson announced a series of sanctions against Russia imposing asset freezes on five major Russian banks and three high net worth individuals, writes The Guardian.

“This is the first tranche, the first barrage of what we are prepared to do”, Johnson told parliament.

“Any assets they hold in the UK will be frozen and the individuals concerned will be banned from travelling here”, Johnson said of the individuals being sanctioned.

He took the steps after Vladimir Putin said Russia was going to recognise the independence of two breakaway areas in eastern Ukraine.

The sanctioned banks are Rossiya, IS Bank, General Bank, Promsvyazbank and the Black Sea Bank, Johnson said. The three individuals are Gennady Timchenko, Igor Rotenberg and Boris Rotenberg.

Johnson’s measures marks a turning of a tide after five years of prevaricating over the role of Russian dirty money in the UK, but still leaves many areas untouched.

He did not impose the complete package of sanctions the UK has prepared because Russia has not yet invaded new sovereign Ukrainian territory, but instead recognized self-proclaimed republics that have been under Russian-backed control.