“I have strengthened our UK ban so that no Russian private jet can fly into UK airspace, or land (at its airports) – an immediate decision,” Shapps said on Twitter.
“Putin’s actions are illegal, and anyone who benefits from Russian aggression against Ukraine is not welcome here,” he added.
The decision came a day after Britain imposed a ban on the Russian national airline “Aeroflot”.
The UK is one of the top destinations for wealthy Russians and their families, and its government has come under fire for not doing enough to stop their money from flowing into the country.
This measure is part of a series of sanctions imposed by Britain on Russia in response to its invasion of Ukraine.