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What sanctions are being imposed on Russia over Ukraine invasion? What sanctions are being imposed on Russia over Ukraine invasion?
(12 days later)
Measures designed to damage Russia's economy have been introduced by countries opposed to its invasion of Ukraine.Measures designed to damage Russia's economy have been introduced by countries opposed to its invasion of Ukraine.
This has led to higher prices for Russian households and shortages of some goods.This has led to higher prices for Russian households and shortages of some goods.
What are sanctions?What are sanctions?
Sanctions are penalties imposed by one country on another, to stop it acting aggressively, or breaking international law.Sanctions are penalties imposed by one country on another, to stop it acting aggressively, or breaking international law.
They are among the toughest actions nations can take, short of going to war.They are among the toughest actions nations can take, short of going to war.
What sanctions have been imposed on Russia?What sanctions have been imposed on Russia?
Military goods and mercenariesMilitary goods and mercenaries
A ban on the export of dual-use goods - items with both a civilian and military purpose, such as vehicle parts - has been imposed by the UK, EU and US.A ban on the export of dual-use goods - items with both a civilian and military purpose, such as vehicle parts - has been imposed by the UK, EU and US.
This is reportedly having an impact on some Russian manufacturers.This is reportedly having an impact on some Russian manufacturers.
Ukraine says Russia's main armoured vehicle factory has run out of parts to make and repair tanks. It also says a tractor plant has stopped production because of a shortage of foreign-made parts.Ukraine says Russia's main armoured vehicle factory has run out of parts to make and repair tanks. It also says a tractor plant has stopped production because of a shortage of foreign-made parts.
The UK is also imposing sanctions on Russia's Wagner Group - a private military firm thought to function as an arms-length unit of the Russian military.The UK is also imposing sanctions on Russia's Wagner Group - a private military firm thought to function as an arms-length unit of the Russian military.
FlightsFlights
All Russian flights have been banned from US, UK, EU and Canadian airspace.All Russian flights have been banned from US, UK, EU and Canadian airspace.
The UK has also banned private jets chartered by Russians.The UK has also banned private jets chartered by Russians.
Luxury goodsLuxury goods
The UK says it will ban the export of luxury goods to Russia - including vehicles, high-end fashion and art. The EU has already imposed a ban.The UK says it will ban the export of luxury goods to Russia - including vehicles, high-end fashion and art. The EU has already imposed a ban.
The UK will also put a 35% tax on some imports from Russia, including vodka.The UK will also put a 35% tax on some imports from Russia, including vodka.
Targeting individualsTargeting individuals
The US, EU and UK have together sanctioned over 1,000 Russian individuals and businesses, including wealthy business leaders known as oligarchs, who are considered close to the Kremlin.The US, EU and UK have together sanctioned over 1,000 Russian individuals and businesses, including wealthy business leaders known as oligarchs, who are considered close to the Kremlin.
One high-profile oligarch sanctioned by the UK is Chelsea FC owner Roman Abramovich.One high-profile oligarch sanctioned by the UK is Chelsea FC owner Roman Abramovich.
Roman Abramovich was attempting to sell Chelsea FCRoman Abramovich was attempting to sell Chelsea FC
Assets belonging to Russian President Vladimir Putin and his foreign minister Sergei Lavrov are also being frozen in the US, EU, UK and Canada.Assets belonging to Russian President Vladimir Putin and his foreign minister Sergei Lavrov are also being frozen in the US, EU, UK and Canada.
However, many Russian oligarchs have put their properties and wealth under other names, which means they may be beyond the reach of the UK's sanctions.However, many Russian oligarchs have put their properties and wealth under other names, which means they may be beyond the reach of the UK's sanctions.
The UK is also limiting the sale of "golden visas", which allowed wealthy Russians to get British residency rights.The UK is also limiting the sale of "golden visas", which allowed wealthy Russians to get British residency rights.
The hunt for superyachts of sanctioned RussiansThe hunt for superyachts of sanctioned Russians
Oil and gasOil and gas
The US is banning all Russian oil and gas imports and the UK will phase out Russian oil imports by the end of 2022.The US is banning all Russian oil and gas imports and the UK will phase out Russian oil imports by the end of 2022.
The EU, which gets a quarter of its oil and 40% of its gas from Russia, says it will switch to alternative supplies and make Europe independent from Russian energy "well before 2030".The EU, which gets a quarter of its oil and 40% of its gas from Russia, says it will switch to alternative supplies and make Europe independent from Russian energy "well before 2030".
Germany has put on hold permission for the Nord Stream 2 gas pipeline from Russia to open.Germany has put on hold permission for the Nord Stream 2 gas pipeline from Russia to open.
Could the world survive without Russian oil and gas?Could the world survive without Russian oil and gas?
Financial measuresFinancial measures
Western countries have frozen the assets of Russia's central bank, to stop it using its $630bn (£470bn) of foreign currency reserves.Western countries have frozen the assets of Russia's central bank, to stop it using its $630bn (£470bn) of foreign currency reserves.
This has caused the value of the rouble to slump by 22% since the start of the year. That, in turn, has pushed up the price of imported goods and led to a 14% rise in Russia's rate of inflation.This has caused the value of the rouble to slump by 22% since the start of the year. That, in turn, has pushed up the price of imported goods and led to a 14% rise in Russia's rate of inflation.
Some Russian banks are being removed from the international financial messaging system Swift, which is used to transfer money across borders. This will delay payments to Russia for energy exports.Some Russian banks are being removed from the international financial messaging system Swift, which is used to transfer money across borders. This will delay payments to Russia for energy exports.
Other UK sanctions include:Other UK sanctions include:
major Russian banks excluded from the UK financial systemmajor Russian banks excluded from the UK financial system
all Russian banks have had their assets frozenall Russian banks have had their assets frozen
the Russian state and major companies are not be able to raise finance or borrow money in the UK the Russian state and major companies cannot raise finance or borrow money in the UK
a limit placed on deposits Russians can make at UK banksa limit placed on deposits Russians can make at UK banks
The EU also said it would target 70% of the Russian banking market and key state-owned firms.The EU also said it would target 70% of the Russian banking market and key state-owned firms.
What are companies doing?What are companies doing?
A growing number of international companies including McDonald's, Coca-Cola and Starbucks have suspended trading in Russia.A growing number of international companies including McDonald's, Coca-Cola and Starbucks have suspended trading in Russia.
After facing fierce criticism for continuing to operate in Russia, Nestle has withdrawn some of its brands including KitKat and Nesquik, but will still sell "essential foods".After facing fierce criticism for continuing to operate in Russia, Nestle has withdrawn some of its brands including KitKat and Nesquik, but will still sell "essential foods".
However, a number of other Western brands including Marks and Spencer, Burger King, and hotel groups Marriott and Accor say they can't pull out from Russia because their businesses there operate under complex franchise deals.However, a number of other Western brands including Marks and Spencer, Burger King, and hotel groups Marriott and Accor say they can't pull out from Russia because their businesses there operate under complex franchise deals.
Growing numbers of firms pull back from RussiaGrowing numbers of firms pull back from Russia
How has Russia reacted to sanctions? Who has expelled Russian diplomats?
Following the release of images of mass killings in Bucha, Germany announced it would expel 40 Russian diplomats.
Foreign minister Annalena Baerbock said the images showed "unbelievable brutality on the part of the Russian leadership and those who follow its propaganda."
France announced it would expel 35 Russian diplomats. Lithuania expelled the Russian ambassador.
These moves follow an earlier co-ordinated round of expulsions of Russian diplomats by several EU countries.
How has Russia reacted to the sanctions and expulsions?
Russia's President Putin has said he will make "unfriendly" nations pay for their imports of Russian gas in roubles, which would push up the value of the currency.Russia's President Putin has said he will make "unfriendly" nations pay for their imports of Russian gas in roubles, which would push up the value of the currency.
Former president Dmitri Medvedev said Russia is planning retaliation for its diplomats being expelled.
"It will be symmetrical and destructive for bilateral relations," he said.
Russia has banned exports of more than 200 products until the end of 2022, including telecoms, medical, vehicle, agricultural, electrical equipment and timber.Russia has banned exports of more than 200 products until the end of 2022, including telecoms, medical, vehicle, agricultural, electrical equipment and timber.
In addition it is blocking interest payments to foreign investors who hold government bonds, and banning Russian firms from paying overseas shareholders.In addition it is blocking interest payments to foreign investors who hold government bonds, and banning Russian firms from paying overseas shareholders.
It has stopped foreign investors who hold billions of dollars worth of Russian stocks and bonds from selling them.It has stopped foreign investors who hold billions of dollars worth of Russian stocks and bonds from selling them.
Could Russia turn to China as sanctions bite?Could Russia turn to China as sanctions bite?