List of sanctions against Russia following the invasion of Ukraine;- As the attacks on Ukraine continue and Russian forces push their advance onto the capital Kyiv’s, President Volodymyr Zilenskyy has asked for international help.
The United States, the European Union, United Kingdom and Japan announced a number of sanctions against Russia that targeted banks, oil refineries and military exports.
Jean-Yves Le Drian, French Foreign Minister, stated that Western powers were taking measures to “asphyxiate Russia’s economy”.
Sanctions against Russia following the invasion of Ukraine
Here is a list containing all actions against Moscow that have been taken so far;-
United States
According to the US Department of the Treasury, it was targeting Russia’s “core infrastructure”, and sanctioned two of Russia’s largest banks, the state-backed Sberbank (supported by the Treasury) and VTB Bank (supported by the Treasury). Otkritie and Novikombank, as well as some senior executives are also on the list.
Within 30 days, US banks must cut their correspondent banking ties with Russia’s largest lender Sberbank. These ties allow banks to make payments among themselves and move money around the world. Washington officials added VTB and Otkritie to the Specially Designated Nationals list. This effectively bans banks from the US financial system, prohibits them from trading with Americans and freezes their US assets.
On Thursday, the White House issued a statement stating that measures would include restrictions on semiconductors.
It also targeted military end-users, including the Russian defense ministry.
The US has placed sanctions on 24 Belarusian entities and individuals, including “two significant Belarusian state owned banks, nine defense companies, and seven regime-connected officials, and elites.”
The White House also outlined sanctions against Russian elites, and their families.
European Union
EU leaders planned to impose sanctions against Russia’s transport, financial and energy sectors, as well as introduce export controls and blacklist more Russians.
Officials from the EU stated that they were considering freezing European assets related to Russian President Vladimir Putin or Foreign Minister Sergey Lavrov in response to their decision to invade Ukraine.
“We are hitting Putin’s system where it needs to be hit, both economically and financially, as well as at the heart of his power,” said Annalena Baerbock, German Foreign Minister.
Baerbock said, “We aren’t just listing oligarchs… we are now also listing Mr Putin and Mr Lavrov, the foreign minister.” Alexander Schallenberg, Austrian Foreign Minister, stated that freezing Putin’s assets within the EU would be “a singular step in history towards a nuclear power”. It was not clear if such a move would have a serious impact on Putin or Lavrov, or if it would only be symbolic.
The EU’s foreign ministers announced sanctions against Russian elites on Friday. However, the group decided not to reduce Russian energy imports or – following objections from Germany, Italy and others – to remove Russia from the Society for Worldwide Interbank Financial Telecommunications (SWIFT).
A similar move would be to ban Putin or Lavrov from EU travel. However, EU leaders stated that they would not be able to ban Putin and Lavrov from EU travel for the moment as it could complicate diplomatic moves after all sides have reached an agreement.
Japan
Japan stated that it would strengthen sanctions against Russia, including financial institutions and exports of military equipment, Prime Minister Fumio Kishhida stated. He also said that any impact on the nation’s resource-poor energy supply is unlikely.
Kishida stated at a news conference, that Tokyo would target Russian financial institutions and individuals through the sanctions. He also said that Tokyo would halt exports from military-use goods like semiconductors.
He stated that Japan must show it was determined to not tolerate any attempts to alter the status quo with force.
United Kingdom
Boris Johnson, Prime Minister of the UK, presented the largest ever package of sanctions against Russia. It targets banks, Putin’s close circle members, and wealthy Russians living in high-end London homes.
Johnson stated that the Russian leader would be found guilty by the entire world and history for invading Ukraine and would never be able “to cleanse the blood of Ukraine from his hands”.
The 10-point sanctions package by the British government included a freeze of assets on major Russian banks. This includes VTB, the second-biggest Russian bank. It also prohibited major Russian companies raising funds in the UK.
To the people of Ukraine: Slava Ukraini.
To the people of Russia: I do not believe this war is in your name.
This crisis, this tragedy, can and must come to an end. Because the world needs a free and sovereign Ukraine. pic.twitter.com/ijbAAb8G67
— Boris Johnson (@BorisJohnson) February 25, 2022
Britain will also prohibit Russia’s largest airline Aeroflot from landing within the UK. It will also suspend dual export licenses to Russia and ban certain high-tech exports as well as parts of the extractive sector.
Canada
Canada announced additional sanctions against Russia, targeting 62 individuals, entities, and members of the elite, and cancelled all export permits.
Prime Minister Justin Trudeau stated that “Today, in the light of Russia’s reckless and dangerous militaristic strike, we are imposing further, severe sanctions.”
These sanctions have a wide reach. Complicit Russian elites will be subject to severe sanctions.” The Russian Security Council will be subject to sanctions, including the finance minister, defence minister and justice minister. Trudeau said.
He stated that Canada will prioritize immigration applications from Ukrainians who wish to move to Canada.
Czech Republic
The Czech Republic has banned Russian airlines from flying into central Europe and is looking at further actions against Russia.
Prime Minister Petr Fiala stated that Prague will also accelerate its exit from two Soviet-era international banks, while the finance ministry will examine Russian-owned companies’ access Czech public funds.
Fiala stated that Czechoslovakia’s 1968 Soviet-led invasion made it more difficult for the Czech to stand up than some of its western European counterparts. He said, “We are a country that experienced the aggressive policies of Russia or Soviet Union and our unique historical experiences makes us more sensitive.”
Taiwan
The government announced that Taiwan would impose sanctions against Russia. However, the largest contract chipmaker in the world said it would adhere to all export control rules.
Premier Su Tseng Chang said, “We very strongly condemn such an act d invasion” without providing details.
Taiwan Semiconductor Manufacturing, Asia’s most valued listed company and major Apple supplier, was asked about sanctions.
Australia
Australia placed additional sanctions on Russia, targeting several of its elite citizens as well as lawmakers. It also stated that it was unacceptable that China was relaxing trade restrictions with Moscow during the invasion of Ukraine.
Scott Morrison, Prime Minister of Canada, stated that new sanctions would be imposed against “oligarchs of strategic importance to Moscow” and the more than 300 Russian lawmakers who voted for the authorization of sending Russian troops into Ukraine. Australia also works with the United States on coordinating sanctions against key Belarussian entities and individuals who have helped Russia.
Morrison expressed concern over China’s “lackluster response” and criticised Beijing for reports that it had eased trade restrictions with Moscow by allowing imports from Russia of wheat.
New Zealand
New Zealand placed restrictions on Russia’s travel and banned trade with its military and security forces.
Prime Minister Jacinda ardern stated that the world was speaking out and sending a clear message to Russia about their actions. They will be condemned by the entire world.
Ardern stated that Russia’s decision could result in the loss of “an unimaginable number of innocent life”.