EU and US imposed sanctions against Russia escalated today
This morning the EU announced tougher sanctions targeting entire industries as opposed to individuals and corporations. The document issued takes into account legal positions and best practices in sanctions administration. For some reason, the US toughened it's stance but did not go as far as Europe, whereas before it's stance was far tougher than Europe's. It reportedly omitted several banks from the its list. The banking sector takes the biggest hit and will therefore affect London significantly.