Moscow, Europe Brief News – Economic boycotts have been implemented worldwide against Russia over Ukraine invasion.
Here is an ever-growing list of sanctions that have been imposed by countries, businesses and the sporting, arts and music world to date.
UK:
Thanks to a fresh wave of sanctions against Russia, Russia’s financial system is now target to UK sanctions.
The country will prevent Russia’s largest bank, Sberbank, from clearing payments in sterling.
The Russian Direct Investment Fund – the country’s sovereign wealth fund – and its chief executive, Kirill Dmitriev, have been sanctioned.
Several other Russian banks also face full asset freezes. The UK has also set a £50,000 limit on bank accounts held by Russian nationals in the UK.
Russia’s national airline, Aeroflot, has been blocked in the UK, and a multitude of Russian companies involved in defence and technology have been economically sanctioned.
Shipbuilder company United Shipbuilding Corporation, the largest in Russia, has also been targeted. UK has also baned Russian ships from its ports.
Britain is also planning to ban the export of certain technologies to Russia.
Mr Johnson said: “We will continue on a remorseless mission to squeeze Russia, from the global economy, piece by piece. Day by day, and week by week.”
On Thursday, the government announced a full asset freeze and travel ban on two of Russia’s leading oligarchs, who officials said had “significant UK interests and close links to the Kremlin”. They were Alisher Usmanov and Igor Shuvalov.
Since the invasion, the UK has sanctioned 13 of Russia’s leading oligarchs and 220 individuals and entities.
In total, more than 500 Russian individuals, entities and their subsidiaries now sit on the UK’s sanctions list.
Britain will also ban Russian companies from the London insurance market, the world’s largest commercial and specialty insurance centre.
EU:
The European Union has also sanctioned multiple companies and banks.
On Saturday, alongside UK and US, the European Commission pledged to remove Russia from the Society for Worldwide Interbank Financial Telecommunication (Swift).
Over 11,000 financial institutions use Swift to send secure messages and payment orders.
The EU will also employ restrictive measures that will prevent the Russian Central Bank from using its international reserves and assets to undermine the economic sanctions.
Additionally, the EU has banned the Russian company, Internet Research Agency, engaged to win online influence operations on behalf of Russia.
EU Commission President Ursula von der Leyen said: “We will stop Putin from using his war chest.”
The EU has banned overflight of EU airspace and access to EU airports by Russian airlines, brought in individual sanctions against Mr Putin, Sergey Lavrov and the members of the Russian State Duma, and curbed transactions with the Russian Central Bank.
Brussels has also suspended the broadcasting of state-owned media Russia Today and Sputnik within the bloc.
US:
Additional sanctions against Russia’s central bank have prohibited Americans from doing any business with the institution as well as freezing its assets within the US.
The country also blocked export on Russian technology, including “semiconductors, telecommunication, encryption security, lasers, sensors, navigation, avionics and maritime technologies”, the White House said in a statement.
America cut off the state-owned Russian Direct Investment Fund, seen as a piggy-bank for Mr Putin and his inner circle.
Australia:
The continent set targeted financial sanctions on eight members of the Security Council of the Russian Federation on Thursday. It has imposed travel bans.
Prime Minster Scott Morrison said that Canberra was working with the United States to impose sanctions on Belarus and key Belarusian entities that have been “complicit in the aggression”.
New Zealand:
Prime Minister Jacinda Ardern announced that the country would cut trade with Russia and impose travel bans against Russian officials.
The trade block includes the prohibition of goods to the Russian military and security forces.
Japan:
Aligning with G7, Prime Minister Fumio Kishida said Japan will limit transactions with Russia’s central bank. It will also cut Russia from the Swift network.
Japan will also impose sanctions on Belarusian organisations and limit exports there due to the country’s part in the invasion of Ukraine.
Taiwan:
Taiwan’s Ministry of Foreign Affairs confirmed it will join other countries in imposing economical sanctions on Russia, but has not yet specified what companies it will be targeting.
It comes amid fears China could one day mount its own invasion of Taiwan.
Switzerland:
Though historically neutral, Switzerland has joined the international effort to boycott Russia through economic sanctions.
The country is freezing the assets “with immediate effect” of Putin, Russia’s Prime Minister Mikhail Mishustin and Foreign Minister Segey Lavrov.
France:
Economic sanctions will target Russian-owned luxury sanctions, said French finance minister Bruno Le Maire.
The country’s sanctions will affect financial assets, real estate, yachts and luxury vehicles that belong to Russian individuals.
