The United Kingdom and other Western allies have imposed sanctions on two hardline Israeli government ministers for "repeated incitements of violence against Palestinian communities" in the West Bank, Britain's foreign office announced Tuesday. National Security Minister Itamar Ben Gvir and Finance Minister Bezalel Smotrich will face a travel ban and an asset freeze in the UK, the government said. Ben Gvir and Smotrich both lead far-right political parties that help keep Prime Minister Benjamin Netanyahu's fragile government coalition afloat. Both men have faced criticism for their inflammatory comments about the occupied West Bank as well as their positions on the war in Gaza. The sanctions are being jointly implemented by the UK, Australia, Canada, New Zealand and Norway, according to a joint statement by the countries' foreign ministers. "We are steadfastly committed to the two-state solution which is the only way to guarantee security and dignity for Israelis and Palestinians and ensure long term stability in the region, but it is imperilled by extremist settler violence and settlement expansion," the joint statement said. "Itamar Ben-Gvir and Bezalel Smotrich have incited extremist violence and serious abuses of Palestinian human rights. Extremist rhetoric advocating the forced displacement of Palestinians and the creation of new Israeli settlements is appalling and dangerous," the statement added. "We have engaged the Israeli Government on this issue extensively, yet violent perpetrators continue to act with encouragement and impunity." While the sanctions are in relation to the West Bank, the Western allies' statement added that "of course this cannot be seen in isolation from the catastrophe in Gaza. We continue to be appalled by the immense suffering of civilians, including the denial of essential aid." Smotrich and Ben Gvir both live in settlements in the West Bank, which Palestinians and the vast majority of the international community hold as part of a future Palestinian state. Both ministers responded defiantly on Tuesday afternoon, vowing to continue their agenda and accusing Britain of echoing its colonial-era restrictions on Jewish migration to British-mandate Palestine. Ben Gvir, the leader of the Jewish Power party, said that "the sanctions do not scare me," adding, "I will continue to act for our country, for our people, I will continue to act and make sure that they do not let humanitarian aid into Hamas." Smotrich, speaking during the inauguration of the new Jewish settlement of Mitzpe Ziv in the occupied West Bank on Tuesday, said that he "heard that Britain has decided to impose sanctions on me because I'm thwarting the establishment of a Palestinian state. There couldn't be better timing than this." "Britain already tried once to prevent us from settling the cradle of our homeland, and we will not let it happen again. With God's help, we are determined to continue building," said Smotrich, who leads the National Religious Party–Religious Zionism. Israeli Foreign Minister Gideon Saar said the government will hold a "special meeting" early next week "to decide on our response to this unacceptable decision." "It is outrageous that elected representatives and members of the government are subjected to this kind of measure," Saar said. Meanwhile, the foreign ministers of the UK, Australia, Canada, New Zealand and Norway said in their statement: "The measures announced today do not deviate from our unwavering support for Israel's security and we continue to condemn the horrific terror attacks of 7 October by Hamas. Today's measures are targeted towards individuals who in our view undermine Israel's own security and its standing in the world." This is a developing story and will be updated. CNN's Rob Picheta, Sharon Braithwaite and Abbas Al Lawati contributed to this report. For more CNN news and newsletters create an account atCNN.com