The U.K.’s measures are intended “to inflict maximum damage” to Russian President Vladimir Putin’s regime, “reducing the resources and funds he needs to carry out this illegal war,” International Trade Secretary Anne-Marie Trevelyan said.

Britain has already imposed its broadest set of sanctions ever on Russia since the invasion of Ukraine in February, and Prime Minister Boris Johnson’s government is working with other Group of Seven nations and the European Union to coordinate regular sets of new sanctions and trade restrictions, while enforcing measures implemented so far.