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Moscow Stock Exchange:
A picture from better days.
In view of the drastic effects of Western sanctions on the Russian financial sector, the Moscow trading center remained closed on Monday
Photo: SERGEI KARPUKHIN/ REUTERS
Most of the world states have condemned the Russian war of aggression in Ukraine.
At the same time, the West is providing military, financial and humanitarian aid with unprecedented unity.
The international community has imposed numerous sanctions against Russia aimed at weakening the economic and financial system and at the same time weakening Russia's President Putin in his own country.
The list of sanctions is not exhaustive, and new ones are added every day.
An overview:
In order to cut off Russian banks from international financial flows, Western countries have disconnected Russian financial institutions from the Swift financial communication system.
The ability to act and the radius of action of the Russian financial institutions for business is thus massively restricted.
Experts say trade between Russia and the West is likely to come to a virtual standstill due to the disruption in payment flows.
Isolation of Russian banks and the central bank
In addition, the EU is restricting the Russian
central bank
's ability to access its currency reserves in euros in order to support the ruble exchange rate.
It confiscates the assets of the central bank in the EU and cracks down on trading in Russian government bonds.
In this way, half of the central bank's reserves would be blocked.
The sanctions against Russian banks and the central bank were already having an effect at the beginning of the week:
EU branches of the major Russian bank Sberbank staggered.
As a result of this sanction, Sberbank Europe AG and its two subsidiaries Sberbank dd in Croatia and Sberbank banka dd in Slovenia are no longer viable, the European banking supervisory authority announced.
The ruble fell drastically on Tuesday, and the Russian central bank initially tried in vain to counteract this by doubling the key interest rate to 20 percent.
At the same time, the central bank signaled its readiness for further hikes.
Russian government bonds lost more than half of their value on Monday.
A panic ensued in the bond market.
Sanctions against energy and transport sectors
The
EU prohibits
the
sale
,
supply
, transfer or
export of certain goods and technology used in oil processing.
Services in this area are also restricted.
The declared goal is to deprive Russia of the opportunity to modernize its oil refineries.
The situation is similar with an
export ban on goods and services for the Russian aerospace industry
.
"This ban on the sale of all aircraft, spare parts and equipment to Russian airlines will affect one of the key sectors of the Russian economy and the country's connectivity," it said.
Three quarters of the current Russian airliner fleet was built in the EU, the US and Canada.
The immediate consequences for the Russian economy cannot be seen and are more likely to materialize in the medium term.
The decisive factor is how quickly Russia can cover its needs elsewhere.
China is fundamentally considered an ally of Russia and sharply criticized the sanctions imposed by the West on Monday.
Sanctions against the technology sector
Certain goods and technologies can no longer be easily brought to Russia from the EU and other western countries.
These include, but are not limited to,
microprocessors
or equipment required for the production of microchips.
The USA also bans the export of high-tech products to Russia - this applies to
semiconductors
as well as
computers, telecommunications and encryption technology
or certain
parts for the aviation and maritime
industries .
Some of the ban will also apply to products that are manufactured abroad but contain US technology.
The US government stressed last week that the restrictions would affect around 50 percent of all Moscow's high-tech imports.
Sanctions against politicians, businessmen and oligarchs
Not only the 351 members of the Russian parliament, but also dozens of high-ranking politicians, military and business representatives are affected by direct sanctions - among other things, their assets in the EU are frozen, insofar as they can be clearly assigned and identified.
There is likely to be more to be had from the oligarchs - they, too, must expect that all assets in the EU will soon be frozen.
In addition, wealthy Russians are being deprived of the opportunity to obtain European citizenship for themselves and their family members.
Sanctions against
President Vladimir Putin (69), Foreign Minister Sergei Lavrov (71), Interior Minister Vladimir Kolokoltsev (60), Defense Minister Sergei Shoigu (66), Kremlin Chief of Staff Anton Vaino (50) and the editor-in-chief of the state TV channel Russia Today, Margarita Simonyan ( 41),
as they came into force in a first package of sanctions in the middle of last week, are more likely to have a symbolic character.
There was criticism that Britain only imposed sanctions on eight Russian super-rich and Putin confidants in the past week.
The Russian oligarchs feel particularly comfortable there.
However, British Foreign Secretary Liz Truss (46) announced on Sunday that there was already a "black list" that would be processed.
"We will target the oligarchs' private jets."
A new law should also prevent assets from being hidden behind shell companies.
As with the annexation of Crimea in 2014, Russia has so far not been deterred by the sanctions and has continued its attacks against Ukraine undeterred at the beginning of the week.
The Kremlin had also announced retaliatory measures and on Monday put the Russian nuclear forces on increased alert.
There were doubts whether the meeting of a Russian and a Ukrainian delegation planned for Monday would silence the guns.
BP, Daimler Truck, Netto: Individual companies are boycotting their Russian trading partners
At the beginning of the week, individual companies are also increasingly reacting to the war of aggression against Ukraine:
Daimler
Truck
is ending its
cooperation
in Russia with the Russian
truck manufacturer Kamaz
with immediate effect until further notice, the group announced on Monday.
The joint venture between Daimler Truck and Kamaz is said to build cabs for Kamaz and non-military Mercedes trucks.
The British
oil company
BP
wants to sell
its almost
20 percent stake in
the Russian state energy company
Rosneft , which
BP
has held since 2013. CEO Bernard Looney said, according to the Financial Times, that BP will no longer report Rosneft's reserves, production and profits and that he himself will resign from the Rosneft board "effective immediately".
The oil company initially left open exactly when BP wants to sell the stake.
The
supermarket chain Netto
with the black dog in its
logo
stops
selling goods produced in Russia
.
As the parent company Salling Group announced on Monday, this stop means that Netto no longer offers goods from Russia in Germany, Denmark and Poland - since Saturday.
The Salling Group supports war victims in Ukraine, it said.
"The situation in Ukraine and the horrific images of the war concern us all," said CEO Henrik Vinther Olesen.
According to a report in the New York Times, several states and high-ranking politicians in Canada and the United States have called for a
boycott of Russian products
or actually stopped their sale by ordinance - vodka in particular is affected.
Sanctions against Russian media
The Russian state media RT and Sputnik are banned in the European Union.
The aim of this is to prohibit "poisonous and harmful disinformation in Europe", as EU Commission President Ursula von der Leyen (63) explained.
Great Britain, on the other hand, wants to continue to tolerate the two propaganda media.
rei with news agencies
