Boris Johnson to issue Ukraine statement today as he warns Putin is bent on 'full scale invasion'

Boris Johnson is to issue a statement in Parliament later today as he warns the Russian president is planning a 'full scale invasion' of Ukraine.

Following an emergency Cobra meeting this morning, Mr Johnson said that the UK would be introducing sanctions 'targeting Russian economic interests as hard as we can.'

He warned that this would be the 'first barrage' of sanctions against the country, as 'more Russian irrational behaviour' is expected.

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The Prime Minister said of the sanctions: “They will hit Russia very hard and there is a lot more that we are going to do in the event of an invasion.

“Be in no doubt that if Russian companies are prevented from raising capital on the UK financial markets, if we unpeel the facade of Russian ownership of companies, of property, it will start to hurt.”

US President Joe Biden has already signed an executive order to impose sanctions on Russia - and also warned of further action if a full-scale invasion breaks out.

Sanctions include the barring of 'new investment, trade and financing by US persons' to, from, or in the 'so-called Donetsk People's Republic and Luhansk People's Republic,' White House press secretary Jen Psaki said in a statement.

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She added: "To be clear: these measures are separate from and would be in addition to the swift and severe economic measures we have been preparing in coordination with allies and partners should Russia further invade Ukraine."

The European Union has said it will agree on Russian sanctions this afternoon.

Last night, Vladimir Putin declared the independence of two breakaway regions of eastern Ukraine,