Boris Johnson has said Britain will impose economic sanctions on more than 100 Russian individuals, entities and subsidiaries – including oligarchs close to president Vladimir Putin.

       The prime minister vowed to “hobble” the Russian economy in the wake of the invasion of Ukraine, as he set out the government’s plan to expand sanctions in the Commons on Thursday.

       Mr Johnson told MPs that the government would freeze the assets of major Russian banks – including VTB, the second’s largest bank – and would ban Russian airline Aeroflot from landing planes in the UK.

       The PM also said the UK would work with allies to limit Russian access to the Swift international payment system – which will need be done in conjunction with G7 and Nato allies – saying: “Nothing is off the table.”

       The prime minister told MPs it was the “largest package of measures Russia has ever seen” – and promised Russian oligarchs living in London “would have nowhere to hide”.

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       Mr Johnson said Mr Putin’s “hideous and barbarous venture” must “end in failure”, adding: “Now we see him for what is – a blood-stained aggressor who believes in imperial conquest.”

       On the list of sanctioned entities are five major companies in the Russian defence sector – including the country’s largest defence company Rostec, which employs more than 2m and exports ￡10bn of weapons a year – as well as more than 70 of their subsidiaries.

       All will have their assets frozen and UK-based companies and individuals will be barred from any transactions with them.

       Five super-wealthy individuals with close links to the Kremlin will also face asset freezes and blocks on transactions, as well as a ban on travel to the UK. The measures will mean, for example, that any of them with children studying at British public schools will be unable to pay their fees.

       The targeted oligarchs are Russia’s youngest billionaire Kirill Shamalov, who was previously married to Putin’s daughter, PS Bank chief Petr Fradkov, VTB Bank deputy president Denis Bortnikov, defence company director Yuri Slyusar and Novicom Bank chair Elena Georgieva.

       More follows...