British banks have warned the government that its plan to ban all Russians from holding more than £50,000 ($65,430) in their accounts is illegal and unworkable, Reuters reported, citing sources.

The government said all Russians would be banned from holding large deposits in British banks, and Prime Minister Boris Johnson said it was part of a strategy to isolate Moscow.

More than 70,000 Russian citizens currently live in the UK, according to government estimates, and London has long been one of the top destinations for Russian money in Europe.

Banking sources told Reuters they fear British offers for Russian deposits would violate equality laws that prohibit discrimination based on nationality.

The UK is imposing what the government has called the largest ever sanctions against Russia, including an asset freeze and a travel ban on hundreds of individuals and businesses it has accused of supporting President Vladimir Putin.

The bank deposit plan is the only measure that targets all Russians in Britain, not just those directly sanctioned.

Bank sources said they asked for assurances that they would not be sued if they imposed restrictions.

Such assurances, however, may not be possible without a change in the law, and more than a month after the restrictions were proposed, there have been no announcements about how they would work, including whether dual nationals would be affected. .