Ministers are making it a criminal offence for planes owned or chartered by Russians to enter UK airspace.
Russian-owned craft are already banned from flying to the UK, but the new move is aimed at targeting private jets registered in a third country being chartered by wealthy Russians.
The government said the sanction would target figures close to the Kremlin.
One plane at Farnborough Airport in Hampshire is already under investigation.
The UK authorities have held the Luxembourg-registered private jet to investigate whether it is Russian-owned and brought a Russian passenger to the UK in contravention of sanctions.
The government has also announced new trade sanctions that will prevent all UK exports of aviation or space-related technology to Russia, including related services such as insurance.
Announcing the new measures, Foreign Secretary Liz Truss said the changes would inflict further “economic pain on Russia and those close to the Kremlin”.
She added the government would continue to support Ukraine and “work to isolate Russia on the international stage”.
Transport Secretary Grant Shapps said the UK was “one of the first countries to ban Russian aircraft and today we are going even further by making it a criminal offence for Russian aircraft to operate in UK airspace”.
“We will always work to deny [Russian President Vladimir] Putin and his cronies the right to continue as normal while innocent Ukrainians suffer.”
Nick Watt, political editor of BBC Two’s Newsnight, said the measures would address the “grey area” of private jets which are registered in a third country being chartered by wealthy Russians.
He said the plane at Farnborough Airport, which is a private airport, is being examined by authorities because it is believed to be used by a Russian oligarch.
Sources told Newsnight that identifying a plane as Russian is not just a matter of following it on a radar, but about “detective work” to establish its true origins.
The new sanctions come shortly after the UK government confirmed it would introduce a ban on all Russian oil by the end of the year, with a similar move announced by the United States.
www.bbc.co.uk
