UK announces sanctions against a "shady network" that funds Putin's "lavish lifestyle"

The UK government announced sanctions today against a "shady network" that funds Russian President Vladimir Putin's "lavish lifestyle."

The sanctions are aimed at Putin's financial network, which includes his ex-wife and cousins, in order to "tighten the vice on the President and his inner circle.

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The UK Government announced the sanctions against Putin's "wallet of family and friends," whom he rewards with "state positions and wealth in exchange for their undying loyalty," according to a statement.

Official records show President Putin has modest assets, including a small flat in St. Petersburg, two Soviet-era cars from the 1950s, a trailer, and a small garage, but officials say Putin is supported by a network of family, friends, and selected elite.

Their remuneration is said to include "far beyond their formal positions" influence over Russian state affairs, according to the UK government.

The latest round of sanctions will "hit this cabal that owes Putin their wealth and power and thus supports Putin and his war machine," according to UK Prime Minister Theresa May.

"We are exposing and targeting the shady network propping up Putin's luxury lifestyle and tightening the vice on his inner circle," UK Foreign Secretary Liz Truss said.

"We will keep going with sanctions on all those aiding and abetting Putin’s aggression until Ukraine prevails," she added.

The UK has sanctioned former Olympic gymnast Alina Kabaeva, who is the Chair of the National Media Group's Board of Directors and reportedly has a "close personal relationship with Putin."

Lyudmila Ocheretnaya, Putin's ex-wife, has also been sanctioned, with the UK government claiming she "benefited from preferential business relationships with state-owned entities."

Igor Putin, Putin's first cousin, Russian businessman Mikhail Putin, Roman Putin, Mikhail Shelomov, close friend Alexander Plekhov, Mikhail Klishin, Executive at Bank Rossiya, Vladimir Kolbin, Yuri Shamalov, and Viktor Khmarin are all named in the new sanctions.

The UK has sanctioned over 1000 people and 100 companies with a combined net worth of £117 billion pounds.

By fLEXI tEAM