Russia hits back over threats of sanctions

RUSSIA has said it will retaliate with its own sanctions package if it is penalised for invading Ukraine.

- Michael Knowles

Oligarchs and firms linked to Vladimir Putin’s regime will be hit by the West.

Banks face being ejected from the Swift international payments system while energy giants will also be targeted.

And Britain could block Russian companies from raising money in the City of London.

But Russian foreign minister Sergei Lavrov said: “Sanctions could be imposed against any legal entities and individuals just for being Russian.”