Wednesday, July 6, 2022

Nations That Have Released Sanctions Against Russia

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Russia took matters into her hands as she carried out an invasion of Ukraine in February 2022.

Following this, international sanctions have been imposed during the Russo-Ukrainian war by a large number of countries against Russia and Crimea. Russia has been suffering from this act as the sanctions contributed to the collapse of the Russian ruble and the Russian financial crisis. So here are nations around the world that have imposed fresh sanctions against Russia over its invasion of Ukraine;
1. European Union
The European Union along with the United States, United Kingdom, and Canada have pledged to remove Russia from SWIFT, a global messaging service that connects financial systems, as part of stricter moves to remove Russia from the international finance system.

2. Switzerland
Even historically neutral Switzerland is adopting the EU’s sanctions against Russia. President Ignazio Cassis announced that Switzerland, which is a major center for wealthy Russian oligarchs, will be freezing the assets of certain individuals “with immediate effect.” This is to push Russia to the point where they have to either stop their invasion or call for a peaceful talk.

READ ALSO: One Million Ukrainians Flee Country As Kherson Falls To Russian Troops
3. France
The French finance minister Bruno Le Maire said that the country will go after luxury goods owned by Russians targeted by sanctions, following a defense council meeting called by French President Emmanuel Macron. Le Maire said that they are pursuing the complete census of financial assets, real estate, yachts, and luxury vehicles that would belong to Russian personalities under European sanctions.
4. Japan
Japan has revealed that it will impose more sanctions on Russia, aligning with the G-7. Specifically, Prime Minister Fumio Kishida said Japan will limit transactions with Russia’s central bank and that it would impose sanctions on Belarus. Japan has also indicated that it will deny certain Russian banks access to SWIFT and that it will freeze Putin’s assets.

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5. Australia
Australia’s leader has come out to make it known that it would begin imposing further sanctions on oligarchs, whose economic weight is of strategic significance to Moscow and over 300 members of the Russian Duma, their parliament.

READ ALSO: Visa And Mastercard Block Russian Financial Transactions And Institutions
6. New Zealand
New Zealand is prohibiting the export of goods to the Russian military and security forces in response to the invasion of Ukraine.

7. Taiwan
Taiwan has announced that it would join the economic sanctions against Russia, without specifying which measures were being considered. They made it known that they strongly condemn Russia’s decision to start a war against Ukraine, adding that it has posed a serious threat to the rules-based international order. This decision to impose sanctions was made to compel Russia to halt its military aggression against Ukraine, and to restart peaceful dialogue among all parties concerned as soon as possible, it was stated. Taiwan is a global leader in the production of semiconductors.

8. The United States
US Secretary of State Anthony Blinken announced further actions against Russia which includes barring Russian financial institutions such as the Russian Central Bank from making transactions in American dollars.

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9. The United Kingdom
The United Kingdom imposed fresh sanctions on Russian banks and they also revealed that they have a “hit list” of oligarchs to be sanctioned, according to Foreign Secretary Liz Truss. The country will prevent Sberbank, Russia’s largest bank, from clearing payments in Sterling. And three more Russian banks; Otkritie, Sovcombank, and VEB, will face a full asset freeze. Truss said the UK will bring a full asset freeze on all Russian banks “in days” to Parliament. The UK joined other Western countries over the weekend to ice Russian banks out of SWIFT. The United Kingdom is also set to sanction 100 individuals and entities as part of further sanctions against Russia.

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Photo Credit: Getty

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