List of Sanctions against Russia in the Ongoing Russia-Ukraine Conflict

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List of sanctions against Russia during Ukraine War – Russia’s President Vladimir Putin announced on 24th February that a special military operation will be taking place in Ukraine. Soon after the announcement was made, missile strikes and bombings were heard in several cities of Ukraine, including the largest and the capital city of Kyiv. The Russia-Ukraine conflict intensified after a series of dialogues failed to deter Putin in his attempt. Many world leaders came together and condemned the act and while many others demanded that dialogues and talks should be the only way to go forward.list of sanctions against russia during ukraine war

List of sanctions against Russia during Ukraine War

The conflict arose after Putin’s demands were not met. Putin made several demands in order to subdue the Russia-Ukraine conflict, one of which was for NATO to not provide membership to Ukraine. Putin also stated that Ukraine’s administration should stop being a puppet of the West and demilitarize itself and announce itself as a neutral state. Even though Ukraine did not get NATO’s membership, the demands of Putin were not met and thus the conflict intensified.

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There has been massive damage to life and property and many have been forced to take shelter in bunkers or underground train stations in order to protect themselves. The Ukrainian government has urged the people to not panic and help each other and even vowed victory. Ukraine agreed to hold talks with Russia on the Belarus border as well but the war seems to be far from over.

List of sanctions against Russia during Ukraine War

Amidst all of this, while the US and NATO have decided to not send troops in the conflict-hit regions of Ukraine. However, the Western countries have come together and imposed several sanctions against Russia and Putin. The United States, The United Kingdom, Canada, The European Union, Japan, New Zealand, Taiwan, and Australia have unveiled sanctions against Russia. In this series of sanctions, the oil refineries and Russian banks have been the main target. Apart from these two, there have also been sanctions against the military exports of Russia.

Here is a list of sanctions against Russia imposed by the West:

1- The United States has blocked Russian banks’ access to the SWIFT international payment system. It has also imposed sanctions against 24 Belarusian individuals and entities, which includes 2 Belarusian state-owned banks, 9 defense firms, and 7 regime connected officials. The US has imposed sanctions on 8 Russian oligarchs and officials. US President Joe Biden took to Twitter and announced these sanctions. The United States has also targeted military-end users which includes the Russian defense ministry.

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2- The European Union has agreed on the SWIFT International Payment sanction amid the Russia-Ukraine conflict. It has also frozen the European assets of Russia’s President Putin and foreign minister Sergey Lavrov. Sanctions targeting Russian elites were also announced a day after the conflict started but the EU has not decided to curb energy imports from Russia. The European Union also considered banning Putin and Lavrov from EU travel. However, the group decided against it and termed it a complicated decision.

List of sanctions against Russia during Ukraine War

3- Japan also joined hands with the other countries and imposed sanctions against Russia. The sanctions from Japan impact the financial institutions of Russia. The Prime Minister, however, made it clear that an energy supply ban is unlikely. Fumio Kishida announced in a news conference these sanctions and added that they will be targeting Russia’s financial institutions and individuals with the sanctions. He further added that Japan will be halting exports of military goods like semiconductors.

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4- South Korea has decided to tighten export controls against Russia amid the Russia-Ukraine conflict. Exports of strategic items and SWIFT payment blocking are some of the sanctions that South Korea has announced and joined hands with the West. The foreign ministry also condemned the act and announced these sanctions via Twitter.

5- The United Kingdom announced the largest-ever sanctions against Russia, Russian President Vladimir Putin, and his close allies. These sanctions target Russian banks and the wealthy Russians who enjoy the high-rolling lifestyle of London. A 10-point sanction was released by the British government on 25th February. Boris Johnson announced that it would impose an asset freeze on many Russian banks, including the state-owned VTB bank. Boris Johnson further added that they will stop major Russian companies from raising finance in the United Kingdom. Russia’s flagship airline Aeroflot has also been banned and will not be allowed to land in the United Kingdom. Some other sanctions include – suspending dual export licenses to Russia and ban on exports of high-tech exports and parts of the extractive industry.

List of sanctions against Russia during Ukraine War

6- Canada announced sanctions against Russia on 25th February and targeted as many as 62 individuals and entities. Canada has also targeted members of the elite and major banks and has cancelled all export permits. The sanctions are also said to be targeting Russian Security Council, which includes Russia’s Defense, finance, and justice minister.

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7- Germany has put a hold on the permission for opening of the Nord Stream 2 gas pipeline from Russia to Germany.

8- The Czech Republic has banned Russian airlines from landing in the country and is further considering more sanctions against Russia.

9- Taiwan has also joined hands in imposing sanctions. However, the details of the sanctions have not been shared yet. But it is being reported that Taiwan Semiconductor Manufacturing, which is a major Apple supplier and is one of Asia’s most valued listed companies will follow the export rules imposed by the government against Russia.

List of sanctions against Russia during Ukraine War

10- Australia imposed sanctions against Russia, which will be targeting its elite individuals and lawmakers. Individuals whose economic weight is significant to Moscow are expected to face the brunt of these sanctions.

11- New Zealand announced travel bans and has also prohibited trade to Russia’s military and security forces.

India and some other countries have not joined hands with the West because of their strong diplomatic ties with Russia.

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