List of sanctions imposed on Russia during the invasion of Ukraine

As attacks continue in Ukraine and Russian soldiers move on the capital Kyiv, President Volodymyr Zelenskyy has appealed to the international community for assistance.

The United States, the European Union, the United Kingdom, Japan, Canada, Taiwan, and New Zealand announced a slew of sanctions against Russia, focusing on banks, oil refineries, and military exports.

Western powers were putting measures in place to “asphyxiate Russia’s economy,” according to French Foreign Minister Jean-Yves Le Drian.

The following is a list of recent actions taken against Moscow:

United States

The US Treasury Department said it was targeting Russia’s financial system’s “essential infrastructure” by penalising two of its largest banks, state-backed Sberbank and VTB Bank. Otkritie, Sovcombank, and Novikombank, as well as certain senior executives, are also sanctioned.

Within 30 days, US institutions must cut their correspondent banking relationships with Russia’s largest lender, Sberbank, which allows banks to make payments to one another and move money around the world.

VTB, Otkritie, Novikombank, and Sovcombank have been placed to the Specially Designated Nationals (SDN) list by officials in Washington. The move basically knocks the banks out of the US financial system, prohibits them from doing business with Americans, and freezes their assets in the US.

I spoke with the G7 leaders today, and we are in full agreement:

We will limit Russia’s ability to be part of the global economy.

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We will stunt their ability to finance and grow Russia’s military.

We will impair their ability to compete in a high-tech, 21st century economy.

— President Biden (@POTUS) February 24, 2022

According to a statement issued by the White House on Thursday, the measures will include “broad limits on semiconductors, telecommunications, encryption security, lasers, sensors, navigation, avionics, and maritime technologies.”

It has also targeted military end users, such as Russia’s defence ministry.

The United States has sanctioned 24 Belarusians, including “two key Belarusian state-owned banks, nine defence enterprises, and seven regime-connected officials and elites.”

The penalties against Russian elites and their families were also detailed by the White House.

European Union

EU leaders planned to slap penalties on Russia’s financial, energy, and transportation sectors, as well as implement export curbs and blacklist additional Russians.

According to EU officials, the EU is considering blocking European assets linked to Russian President Vladimir Putin and Foreign Minister Sergey Lavrov in response to their decision to attack Ukraine.

“We are striking Putin’s system where it must be struck: not only economically and monetarily, but also at the heart of its power,” German Foreign Minister Annalena Baerbock stated.

“We’re not just identifying oligarchs… we’re also mentioning the president, Mr. Putin, and the foreign minister, Mr. Lavrov,” Baerbock continued.

Freezing Putin’s assets in the EU would be “a one-of-a-kind step in history toward nuclear power,” according to Austrian Foreign Minister Alexander Schallenberg.

However, it remained unclear how seriously such a move would affect Putin and Lavrov, or whether it would be purely symbolic.

EU foreign ministers also unveiled sanctions against Russian elites on Friday, but the group chose not to restrict Russian energy imports or, following objections from Germany and Italy, to cut Russia off from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) international payment system.

An equally significant step would be to bar Putin and Lavrov from entering the EU. However, EU leaders made it plain that this would be off the table for the time being since it would complicate diplomatic manoeuvres once all parties were seated at the negotiating table.

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The package of massive and targeted sanctions approved tonight shows how united the EU is.

First, this package includes financial sanctions, targeting 70% of the Russian banking market and key state owned companies, including in defence. https://t.co/iKVGfnafKp

— Ursula von der Leyen (@vonderleyen) February 25, 2022

Japan

Prime Minister Fumio Kishida said Japan will strengthen sanctions against Russia to encompass financial institutions and military equipment shipments, but that an impact on his resource-poor country’s energy supplies is doubtful.

Kishida said at a news conference that the penalties will target Russian financial institutions and individuals, as well as halt exports of military-use products such as semiconductors.

“Japan must clearly show its position that we will never tolerate any attempt to change the status quo by force,” he said.

Czech Republic

The Czech Republic has barred Russian airlines from flying to the country in central Europe and is exploring further sanctions against Russia.

Prime Minister Petr Fiala stated that Prague will also expedite its disengagement from two international banks established during the Soviet era, while the finance ministry will investigate Russian-owned enterprises’ access to Czech public funds.

According to Fiala, the Czech Republic’s position is stricter than that of other Western European countries because of recollections of the 1968 Soviet-led invasion of Czechoslovakia.

“We are a country that experienced Russia’s or the Soviet Union’s forceful policies, and our particular historical experience makes us much more sensitive,” he remarked.

Taiwan

Taiwan will impose sanctions on Russia, according to the government, and the world’s largest contract chipmaker has stated that it will follow all export-control regulations.

“We strongly condemn such an act of invasion and would join democratic countries in collectively imposing sanctions,” Premier Su Tseng-chang stated, without providing any information.

When asked about the fines, Taiwan Semiconductor Manufacturing (TSMC), a major Apple supplier and Asia’s most valuable publicly traded business, stated it had a strong export control mechanism in place and would abide by the regulations.

Australia

Australia announced further sanctions on Russia, targeting several of its elite individuals and parliamentarians, and said it was “unacceptable” that China was relaxing trade restrictions with Moscow while it was invading Ukraine.

Prime Minister Scott Morrison said the new sanctions will target “oligarchs whose economic weight is of strategic relevance to Moscow,” as well as more than 300 Russian parliamentarians who voted to authorise the deployment of Russian soldiers into Ukraine.

Australia is also collaborating with the US to coordinate penalties against important Belarussian individuals and entities that assisted Russia.

Morrison expressed alarm about China’s “lack of a forceful response” and chastised Beijing for rumours that it had reduced trade restrictions with Moscow by permitting wheat shipments from Russia.

New Zealand

New Zealand slapped targeted travel prohibitions on Russia, as well as trade restrictions on its military and security forces.

“The world is speaking and sending a very clear message to Russia that what they have done is wrong and they will face the condemnation of the world,” Prime Minister Jacinda Ardern said.

Ardern said “an unthinkable number of innocent lives could be lost because of Russia’s decision”.