As Russia began its invasion of Ukraine last week, several countries and international blocs have started imposing sanctions on Kremlin to cut off its economy putting it in financial strain. The EU and West was one of the first blocs to impose sanctions against Moscow.
The international community has imposed a mix of economic and diplomatic sanctions, with countries acting both unilaterally and collectively. The US and the UK have introduced unilateral sanctions targeting Russia’s two largest banks, Sberbank and VTB Bank. They have also frozen the assets and restricted travel of key Russian oligarchs. Canada and Australia have followed suit.
Russia’s economy is likely to suffer significantly from the raft of sanctions imposed on its finance, energy, military and sporting events following aggression against Kiev.
Here is a list of sanctions that the international community has imposed on Russia:
EU Tightens Sanctions
EU imposed its toughest sanctions against Russia closing its airspace to Russian aircraft and banning two Russian broadcasters. Later it announced tightening sanctions targetting Russian-ally Belarus with measures and funded weapons for Ukraine to help it defend itself against Russia.
“For the first time ever, the European Union will finance the purchase and delivery of weapons and other equipment to a country that is under attack, European Commission President Ursula von der Leyen said. She said the European Union would close its airspace to Russian aircraft, including the private jets of Russian oligarchs.
It also slapped sanctions on 26 more Russians, including oligarchs, senior officials and an energy insurance company, bringing the total of people targeted to 680. EU headquarters said those listed include oligarchs and businessmen active in the oil, banking and finance sectors, government officials, top military brass and propagandists who contributed to spread anti-Ukrainian propaganda and promote a positive attitude towards the invasion of Ukraine. The bloc had already imposed an asset freeze on President Vladimir Putin and Foreign Minister Sergey Lavrov.
Canada announces ban on Oil imports
Canadian Prime Minister Justin Trudeau announced a ban on Russian oil imports, saying oil revenues have helped to prop up President Vladimir Putin and Russian oligarchs and wage war against Ukraine. He said Ottawa would also be supplying Ukraine with anti-tank weapons and ammunition, in addition to three previous arms shipments.
“Today, we are announcing a ban on all imports of crude oil from Russia, an industry that has benefited President Putin and his oligarchs greatly,” Trudeau told a news conference.
Countries closing airspace
Canada has closed its airspace to all Russian carriers in protest at the Russian invasion of Ukraine, Ottawa announced Sunday. But the ban was quickly tested when, according to Canadian officials, a plane operated by Russian airline Aeroflot flew over the country.
Several other European countries including the Czech Republic, Poland and Bulgaria joined in closing their airspace to flights by Russian carriers.
Restrictions on Russia’s Central Bank
The United States and Canada baned all transactions with Russia’s central bank in an unprecedented sanction. The US Department of the Treasury said on Monday the sanctions will deprive Russian President Vladimir Putin of funds he needs for the war in Ukraine.
Ban from World Cup
Russia has been expelled from the World Cup after being suspended from all international competitions “until further notice”, FIFA and UEFA announced in a joint statement on Monday, while European football’s governing body also ended its partnership with Russian energy giant Gazprom.
The men’s team had been due to play in qualifying play-offs in March for the World Cup in Qatar later this year, while its women’s side had qualified for the European Championship in England, to be held in July.
suspended from World Rugby
Russia and Belarus were suspended from all international rugby “until further notice” on Tuesday, the world governing body said, as it announced “full and immediate” sanctions following the invasion of Ukraine. Russia’s membership of World Rugby was also suspended indefinitely, meaning the country’s slim hopes of qualifying for next year’s World Cup in France are over.
“World Rugby reiterates its condemnation of Russia’s aggressive invasion of Ukraine and the facilitation of this action by Belarus,” said a strongly worded statement.
(With inputs from agencies)
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