Ukraine conflict: sanctions against Russia - the measures against Putin

Created: 02/26/2022, 12:27 p.m

By: Max Schaefer

After the Russian invasion of Ukraine, western countries reacted with sanctions against Russia.

An overview.

Frankfurt – In response to the Russian attack in Ukraine, NATO countries, EU members and other western countries are imposing sanctions on Russia*.

Targets are leading politicians, but also the financial system and the energy sector.

But President Vladimir Putin* and Foreign Minister Sergey Lavrov should also be the target of the punitive measures.

The US participates in the sanctions against Putin and Lavrov.

They also freeze the assets of numerous individuals, banks and organizations in the country.

US citizens and companies are not allowed to do business with them or support them financially.

Even if those affected by the sanctions do not have any property in the USA, the measures make trade in people more difficult.

Ukraine conflict: what sanctions the US imposes on Russia

The US sanctions also target the core infrastructure of the Russian financial system.

Two of Russia's largest banks are being sanctioned.

US financial institutions must cut their correspondence with them, which is necessary for international remittances.

In addition, US banks will be banned from trading with the major Russian banks and their assets will be frozen, reports the Al Jazeera news channel.

In addition, there are restrictions on the export of semiconductors, telecommunications, encryption security and other technologies that can be used for military purposes.

US sanctions against Russia also target its military and security agencies.

In addition to Russia, the USA is also sanctioning Belarus in the Ukraine conflict*.

This affects 24 organizations, companies and individuals, including two "significant state-owned banks, nine defense contractors," reports Al Jazeera.

Ukraine conflict: First EU sanctions package against Russia comes into force

In view of the Ukraine conflict, the EU also put Vladimir Putin and Sergei Lavrov on its sanctions list.

This will freeze their assets within the EU.

It is the "toughest" package of sanctions "that has ever been decided," said Foreign Affairs Commissioner Josep Borell after a meeting of foreign ministers on Friday (February 25, 2022).

The finance ministers of the EU are discussing sanctions against Russia in the Ukraine conflict.

© Francois Mori

EU sanctions also target Russia's financial, energy and transport sectors.

The measures, which came into force on Saturday night (February 26, 2022), are intended to cause considerable damage to Russia and its economy.

This prevents the Russian state and important companies from raising capital in the EU.

The EU also enacts export restrictions for strategic goods, including in the transport sector.

The EU member states Czech Republic, Bulgaria and Poland also blocked their airspace for Russian aircraft.

However, no energy imports from Russia will be stopped.

Sanctions against Russia: Great Britain is planning this in the Ukraine conflict

Great Britain* also imposes sanctions on Russian President Vladimir Putin and Foreign Minister Sergey Lavrov.

The "revenge mission" of Putin and Lavrov, with which they wanted to eliminate the world order after the Cold War by attacking Ukraine*, is the reason for the measure.

This was stated by Prime Minister Boris Johnson* at a NATO* meeting.

Johnson also called for excluding Russia from the Swift payment system.

In addition, Great Britain imposed a package of sanctions against Putin's closest confidants, other wealthy Russians and banks.

Existing assets in the country are to be frozen.

The United Kingdom also imposed an export ban on high-tech products and the raw materials industry.

Sanctions against Russia: Japan and Canada

"Japan must show that we will never condone any attempt to change the status quo by force," Prime Minister Fumido Kishida said, according to Al Jazeera.

In response to the Ukraine conflict, the Asian country is tightening sanctions against Russian financial institutions and individuals.

The government also imposed an export ban on military goods.

According to Prime Minister Justin Trudeau, Canada is sanctioning a total of 62 companies, institutions and Russian elites and is withdrawing all export licenses previously issued.

With the sanctions, the North American country is also targeting members of the Russian Security Council, including Defense Minister Sergei Shoigu.

Canada also joins sanctions against Putin and Lavrov.

"We will impose sanctions on President Putin and his co-architects of this barbaric war, his chief of staff and foreign minister Sergey Lavrov," Justin Trudeau said on Friday (02/25/2022).

The Canadian prime minister also spoke out in favor of excluding Russia from Swift.

Ukraine conflict: Australia imposes sanctions on Russia and Belarus

Australian Foreign Minister Marise Payne said the Australian government was deliberating whether to directly sanction Vladimir Putin and Sergey Lavrov for the Russian attack on Ukraine.

"It is an extraordinary move to sanction leading politicians, but this is an extraordinary situation."

On the other hand, Australia imposed sanctions on eight oligarchs from Putin's environment and 339 members of the Duma* because they had made the attack on Ukraine possible.

Similar to the USA, Australia is also targeting Belarus with its sanctions in the Ukraine conflict.

Australian Prime Minister Scott Morrison also criticized China* because, according to Al Jazeera, their government is planning to facilitate wheat imports from Russia.

Morrison was concerned about the "lack of strong response from China".

Sanctions against Russia: What New Zealand and Taiwan are planning

In the Ukraine conflict, New Zealand imposed travel restrictions against Russia.

The government also banned trading with the Russian military and other security agencies.

Taiwan also announced sanctions against Russia.

"We strongly condemn such an act and will impose sanctions together with democratic countries," Al Jazeera quoted Prime Minister Su Tseng-chang as saying.

However, he did not give any details about the specific measures.

Despite the sanctions that have already come into force and are still planned, Russia does not want to call off the attack on Ukraine.

“The military operation to protect Donbass will be carried out in full and until all results are achieved.

Nothing more and nothing less,” said former President and current Vice President of the Security Council Dmitry Medvedev on Saturday (February 26, 2022).

Medvedev described the Western sanctions as "political impotence resulting from an inability to change Russia's course".

(ms with AFP/dpa)