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| Version 21 | Version 22 |
|---|---|
| What sanctions are being imposed on Russia over Ukraine invasion? | What sanctions are being imposed on Russia over Ukraine invasion? |
| (6 days later) | |
| The US and UK governments have announced further sanctions on Russia, following its invasion of Ukraine. | The US and UK governments have announced further sanctions on Russia, following its invasion of Ukraine. |
| The financial measures designed to damage Russia's economy and penalise President Putin, high-ranking officials, and people who have benefited from his regime. | The financial measures designed to damage Russia's economy and penalise President Putin, high-ranking officials, and people who have benefited from his regime. |
| 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 are the latest sanctions to be imposed? | What are the latest sanctions to be imposed? |
| Among the US's latest sanctions are: | Among the US's latest sanctions are: |
| economic measures to ban new investment in Russia | economic measures to ban new investment in Russia |
| severe sanctions on two Russian financial institutions - Alfa Bank and Sberbank | severe sanctions on two Russian financial institutions - Alfa Bank and Sberbank |
| sanctions on critical major state-owned enterprises | sanctions on critical major state-owned enterprises |
| sanctions on Russian government officials and their family members, including President Putin's adult children and relatives of Foreign Minister Sergei Lavrov | sanctions on Russian government officials and their family members, including President Putin's adult children and relatives of Foreign Minister Sergei Lavrov |
| Meanwhile the UK has imposed sanctions on Russia's largest bank, Sberbank, and committed to ending all imports of Russian coal and oil by the end of 2022. | Meanwhile the UK has imposed sanctions on Russia's largest bank, Sberbank, and committed to ending all imports of Russian coal and oil by the end of 2022. |
| What else has been sanctioned? | What else has been sanctioned? |
| Military goods and mercenaries | Military 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. |
| 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. |
| Flights | Flights |
| 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 goods | Luxury goods |
| The UK and the EU have banned the export of luxury goods to Russia - including vehicles, high-end fashion and art. | |
| The UK has also imposed a 35% tax on some imports from Russia, including vodka. | |
| Targeting individuals | Targeting individuals |
| The US, EU and UK have together sanctioned more than 1,000 Russian individuals and businesses, including wealthy business leaders - so-called oligarchs - who are considered close to the Kremlin. | The US, EU and UK have together sanctioned more than 1,000 Russian individuals and businesses, including wealthy business leaders - so-called 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 FC | Roman 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. |
| The UK has also stopped the sale of "golden visas", which allowed wealthy Russians to get British residency rights. | |
| The hunt for superyachts of sanctioned Russians | The hunt for superyachts of sanctioned Russians |
| Will new legal powers find Putin's loot? | Will new legal powers find Putin's loot? |
| Oil and gas | Oil 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 measures | Financial 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 caused the value of the rouble to slump by 22%, which has pushed up the price of imported goods and led to a 14% rise in Russia's rate of inflation. | |
| The rouble has since recovered - but largely due to measures to prop up the currency. Buyers of Russian gas have to pay in roubles and Moscow now requires Russian firms to convert most of their foreign profits into roubles. | |
| The United States has barred Russia from making debt payments using the $600m it holds in US banks, making it harder for Russia to repay its international loans. | The United States has barred Russia from making debt payments using the $600m it holds in US banks, making it harder for Russia to repay its international loans. |
| Credit ratings agency S&P has now declared Russia to be in "selective default" (this means a debtor has defaulted on a specific obligation but not its entire debt) after it attempted to make interest payments on roubles for two dollar-denominated bonds. | |
| The agency said this was because investors were unlikely to be able to convert the roubles into dollars. | |
| 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 system | major Russian banks excluded from the UK financial system |
| all Russian banks have had their assets frozen | all Russian banks have had their assets frozen |
| the Russian state and major companies cannot 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 banks | a 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 Russia | Growing numbers of firms pull back from Russia |
| Who has expelled Russian diplomats? | Who has expelled Russian diplomats? |
| Following the release of images of mass killings in Bucha, Germany announced it would expel 40 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." | 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. | 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. | These moves follow an earlier co-ordinated round of expulsions of Russian diplomats by several EU countries. |
| So far, nine EU countries and the US have together expelled over 250 Russian diplomats and embassy workers. | So far, nine EU countries and the US have together expelled over 250 Russian diplomats and embassy workers. |
| How has Russia reacted to the sanctions and expulsions? | 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. | 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. | "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? |