Ever since Russia recognised the two breakaway regions in Ukraine – Donetsk and Luhansk -- as independent, it has been caught in the quagmire of international sanctions and condemnation for violating the Minsk process that began in 2014.
Meanwhile, Russian Embassy’s Deputy Chief of Mission in India Roman Babushkin has claimed that Donetsk and Luhansk have applied officially to Russia for recognition of their independence. “Today, Donetsk and Luhansk applied officially to Russia for recognition of their independence. But from the very beginning, US started its internal influence in domestic affairs in countries on all post-Soviet space,” he said.
Here’s a list of countries that have imposed sanctions on Russia in the wake of the Ukraine crisis
President Joe Biden rolled out the first set of sanctions against Russia on Tuesday. The first set of sanctions targeted members of Putin’s inner circle and their families and two banks that the US considers crucial to the Kremlin and Russian military. Sanctions have been imposed on individuals listed on a Specially Designated Nationals and Blocked Persons list through the Treasury Department’s Office of Foreign Assets Control.
These sanctions include prohibiting any new investment in the breakaway regions recognised by Russia by Americans from wherever they are based. Importation and/or exportation, re-exportation, sale or supply of goods, services or technology from the regions directly or indirectly is also forbidden. Any approval, financial facilitation or guarantee by an American person wherever located of a transaction by a foreign person.
European Union has issued sanctions that put Russian politicians and officials on blacklists, ban trading in Russian state bonds and target imports and exports with separatist entities, according to senior EU officials.
These sanctions include putting those politicians on blacklist who were involved in recognising the breakaway regions in eastern Ukraine. These measures also aim “to target the ability of the Russian state and government to access the EU’s capital and financial markets and services, to limit the financing of escalatory and aggressive policies.”
Banks involved in financing separatist activities in eastern Ukraine have also come in the line of fire. Two regions – Donetsk and Luhansk – could also be removed from a free trade deal between the EU and Ukraine “to ensure that those responsible clearly feel the economic consequences of their illegal and aggressive actions.”
The UK has announced sanctions on 5 Russian banks – Bank Rossiya, Black Sea Bank, Genbank, IS Bank and Promsvyazbank – all of which are small lenders. Promsvyazbank is the only bank on the central bank’s list of systematically important lenders.
Britain has also imposed sanctions on 3 high net-worth individuals and allies of Russian premier Vladimir Putin – Gennady Timchenko and billionaires Igor and Boris Rotenberg. Prime Minister Boris Johnson told the British Parliament, “This is the first tranche, the first barrage of what we are prepared to do.”
He further said, “Any assets they hold in the UK will be frozen and the individuals concerned will be banned from travelling here.” Britain has also threatened to cut off Russian companies’ access to US dollars and British pounds and blocking them from raising capital in London. The UK has also threatened to expose what Johnson calls the “Russian doll” of property and company ownership.
In a first wave of western sanctions against Russia, German Chancellor Olaf Scholz suspended the certification process for the Nord Stream 2 natural gas pipeline which directly links Russian gas to Europe via Germany.
Prime Minister Justin Trudeau said that his government will ban Canadians from all financial dealings with the so-called “independent states” of Luhansk and Donetsk, also known as the Donbass region. Canada will also bar its citizens from engaging in purchases of Russian sovereign debt and the government will also sanction those Russian parliamentarians who voted in favour of recognising Donetsk and Luhansk as independent.
Canada will apply additional sanctions on two state-backed Russian banks and prevent any financial dealings with them, Trudeau said. He also noted that he authorised additional troops to the region. “This involves more troops to Latvia, as well as the deployment of an additional frigate and maritime patrol aircraft,” Trudeau underscored.
Australian Prime Minister Scott Morrison announced the first tranche of sanctions today. Morrison said that Australia will begin placing sanctions on Russian individuals it believes are responsible for Russia’s actions against Ukraine.
He said, “Australians always stand up to bullies, and we will be standing up to Russia, along with all of our partners.” Morrison added that this is only the beginning and more tranches of sanctions against Russia can be expected.
Prime Minister Fumio Kishida announced that his government is imposing sanctions on Russia over its actions in Ukraine. These sanctions include prohibiting issuance of Russian bonds in Japan and freezing the assets of certain Russian individuals, as per Prime Minister Kishida.
(With agency inputs)
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