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Wave of sanctions against Moscow during the invasion of Ukraine

'Punish Russia': Wave of sanctions against Moscow for the invasion of Ukraine

Russia’s invasion of Ukraine triggered a wave of sanctions. File

Washington:

Russia’s invasion of Ukraine has triggered a wave of sanctions as global leaders seek to increase pressure on the Kremlin.

As the Russian military shuts down in Kyiv and Ukrainian refugees pour into neighboring countries, here are some of the sanctions that have hit Moscow so far.

USA

On Friday, US President Joe Biden extended his country’s measures against Russia, including sanctions against President Vladimir Putin and Foreign Minister Sergei Lavrov, including a travel ban. for two politicians.

Biden was the first world leader to announce the sanctions, hours after Putin announced a “military operation” into Ukraine.

The first wave will hit four Russian banks, cut more than half of Russian technology imports, and target some of the country’s oligarchs.

Energy giant Gazprom and 12 other major companies will be banned from raising capital in Western financial markets.

Defense and aviation technology exports to Russia are also restricted, and 24 Belarusian individuals and entities accused of aiding and abetting the Kremlin’s invasion of Ukraine will face penalties.

European Union

The European Union also added Putin and Lavrov to its sanctions list on Friday.

The step was agreed during a meeting of EU foreign ministers in Brussels held to adopt a broad package of sanctions against Russia that the bloc’s foreign policy chief Josep Borrell called “the harshest”. that this block has offered.

The package, approved by EU leaders in an overnight summit, impacts Russia’s financial, energy and transport sectors, while limiting the ability of Russians to keep large amounts of cash. in EU banks.

It also expands the number of Russians on the EU’s list of sanctioned individuals who are barred from entering the bloc’s 27 countries and whose EU assets are frozen.

England

The British government has also ordered the freezing of all assets of Putin and Lavrov and barred oligarchs’ jets from flying into its airspace on Friday.

The Treasury Department has issued a financial sanctions notice against the two men, adding them to the list of Russian oligarchs who have had their assets and bank accounts frozen in the UK.

Earlier, Britain froze the assets of Russian bank VTB and weapons manufacturer Rostec, and banned Russia’s top aircraft carrier Aeroflot from its airspace, in addition to targeting five homes. other tycoons close to Putin.

Canada

Prime Minister Justin Trudeau echoed other world leaders on Friday, also imposing sanctions on Putin and Lavrov.

Trudeau also signaled “Canada’s support to remove Russia from the SWIFT payments system, a vital part of the global banking system.”

And he said Belarus would also be punished “for aiding President Putin’s invasion of a free and sovereign state.”

The new sanctions aimed at punishing Putin and Foreign Minister Lavrov’s inner circle will target nearly 60 individuals and organizations, including members of the elite, security officials, banks and private security firms. of Russia, the Wagner group.

Export permits for $550 million worth of goods in the aerospace, information technology and mining sectors have been cancelled.

Asia Pacific

Responses across the Asia-Pacific have been mixed.

So far, India has limited participation in the sanctions. Japanese Prime Minister Fumio Kishida criticized Putin’s efforts to “change the status quo by force” and imposed measures targeting semiconductor exports – which are in short supply globally – and organizations. financial institution.

Neighboring Taiwan has vowed to join the sanctions because the Kremlin’s actions are “the most serious threat … to the rules-based international order.”

In Australia, Prime Minister Scott Morrison announced a “second phase” of sanctions targeting 25 individuals, four financial institutions and entities involved in the development and sale of military equipment.

Another wave will be imposed when “those responsible for these egregious acts” are identified, he said, which could include targeting members of Russia’s parliament.

Morrison also lashed out at China’s response after Beijing said it understood Moscow’s “reasonable concerns” over Ukraine and vowed to increase Russian wheat imports.

“You can’t throw a lifeline to Russia in the middle of a time when they’re invading another country,” he said.

(This story has not been edited by NDTV staff and was automatically generated from the feed provided.)

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