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What sanctions are being imposed on Russia over Ukraine invasion? What are the sanctions on Russia and are they hurting its economy?
(7 days later)
In its latest attempt to punish Russia for it invasion of Ukraine, the European Union is to ban all imports of oil from Russia that are brought in by sea. Russia is reported to have missed a deadline to make a debt payment, because of sanctions imposed on it.
It says this could cut the amount of oil that EU countries import from Russia by up to 90%, reducing the amount of money the Russian government makes from oil sales. Since Russia invaded Ukraine a wide range of measures have been announced, to limit its ability to pay for the war.
The EU, along with countries such as the UK and the US, have introduced a series of measures to weaken key areas of the Russian economy, such as its energy and financial sectors.
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 has the EU just introduced? How is Russia being sanctioned?
Up until now, EU states have been importing 2.2 million barrels per day (bpd) of crude oil from Russia and 1.2 million bpd of oil products. Western countries have targeted wealthy individuals, banks, businesses and state-owned enterprises.
Given the soaring price of oil, this has been earning Russia over $1bn (£800m) a day.
EU nations have agreed to stop importing any oil from Russia that comes in by sea, which rules out about two-thirds of the total.
They will continue, on a temporary basis, to import Russian oil by pipeline. This is to benefit countries such as Hungary and Slovakia, which are highly dependent on it.
However, Germany and Poland, which also import Russian oil by pipeline, say they will stop doing so by the end of this year.
The EU's president, Ursula von der Leyen, says this will effectively reduce the EU's oil imports from Russia to 10 or 11% of its current level.
What other sanction are there on Russian 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.
Germany has frozen plans for the opening of the Nord Stream 2 gas pipeline from Russia.
The EU has also said it will halt Russian coal imports by August.
However, the EU is less keen to impose sanctions on Russian gas, because it relies on Russia for about 40% of its gas needs.
In March, the EU committed to reducing gas imports by two-thirds within a year but has not been able to agree any further action.
Could the world survive without Russian oil and gas?
State-owned Sberbank is one of the biggest Russian banks
How else is Russia being sanctioned?
Western countries have introduced increasingly widespread sanctions - targeting wealthy individuals, banks, businesses and state-owned enterprises.
Financial measuresFinancial measures
Russia's central bank assets have been frozen to stop it using its $630bn (£470bn) of foreign currency reserves. Russia is believed to have defaulted on a debt for the first time since 1998, after missing a key deadline.
This caused the rouble to fall 22% in value, pushing up the price of imported goods and leading Russia's inflation rate to rise to 14%. The rouble has since recovered, mainly due to measures by Moscow to prop it up, but inflation has risen above 17%. It has the money to make a $100m (£81m) payment, but sanctions made it impossible to do so.
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. It follows a series of measures taken against its financial institutions.
Major Russian banks have been removed from the international financial messaging system Swift, which will delay payments to Russia for energy exports. The US 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.
Swift links 11,000 banks and institutions in more than 200 countries Russia's central bank assets have been frozen, to stop it using the $630bn (£470bn) of reserves it has in foreign currencies.
The UK has excluded key Russian banks from the UK financial system, frozen the assets of all Russian banks, barred Russian firms from borrowing money, and placed limits on deposits Russians can make at UK banks, Major Russian banks have been removed from the international financial messaging system Swift, which will delay payments to Russia for its oil and gas exports.
The UK has excluded key Russian banks from the UK financial system, frozen the assets of all Russian banks, barred Russian firms from borrowing money, and placed limits on deposits Russians can make at UK banks.
Russia's economy buckles up for a bumpy ride
Oil and gas
Russia is thought to have earned nearly $100bn (£82.3bn) from oil and gas exports during the first 100 days of the war.
Sanctions targeting its exports have been announced:
The European Union (EU) says it will ban all imports of oil brought in by sea from Russia by the end of 2022
The US is banning all Russian oil and gas imports
The UK will phase out Russian oil imports by the end of 2022
Germany has frozen plans for the opening of a major gas pipeline from Russia
The EU said it will halt Russian coal imports by August
The EU is less keen to impose sanctions on Russian gas, because it relies on it for about 40% of its gas needs.
In March, it said it would reduce gas imports by two-thirds within a year, but has not agreed further action.
Can the world cope without Russian oil and gas?
Targeting individualsTargeting individuals
The US, EU, UK and other countries have sanctioned more than 1,000 Russian individuals and businesses, including: The US, EU, UK and other countries have sanctioned more than 1,000 Russian individuals and businesses. These include wealthy business leaders - the so-called oligarchs - considered close to the Kremlin, including former Chelsea FC owner Roman Abramovich.
Wealthy business leaders, so-called oligarchs, who are considered close to the Kremlin, including the former Chelsea FC owner Roman Abramovich Roman Abramovich is the former owner of Chelsea FC
Russian government officials and family members - including President Vladimir Putin's adult children and relatives of Foreign Minister Sergei Lavrov Superyachts linked to sanctioned Russians are also being targeted.
Assets belonging to President Putin and Foreign Minister Sergei Lavrov are being frozen in the US, EU, UK and Canada Russian government officials and family members have also been sanctioned. Assets belonging to President Putin and Foreign Minister Sergei Lavrov are 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 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 What other sanctions have been imposed?
Will new legal powers find Putin's loot? Other measures include:
What are companies doing? A ban on the export of dual-use goods - items with both a civilian and military purpose, such as vehicle parts - by the UK, EU and US
More than 1,000 international companies have either suspended trading in Russia, or withdrawn altogether - including McDonalds, Coca-Cola, Starbucks, and Marks & Spencer. A ban on all Russian flights from US, UK, EU and Canadian airspace
McDonald's is leaving Russia and selling off its 850 restaurants, 30 years after setting up there. An import ban on Russian gold
Food giant Nestle has withdrawn some of its brands including KitKat and Nesquik, but will still sell "essential foods". A ban on the export of luxury goods to Russia
However, some brands including Burger King, and hotel groups Marriott and Accor say they can't pull out because their businesses operate under complex franchise deals. The UK has imposed a 35% tax on some imports, including vodka
Military goods and mercenaries Many international companies have either suspended trading in Russia, or withdrawn altogether. They include McDonalds, Coca-Cola, Starbucks, and Marks & Spencer.
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. Are the sanctions hurting Russia?
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. A deep recession is expected and Russia's economy is expected to shrink by 10% in 2022.
Flights Supermarket shelves in Moscow are still pretty full, BBC Russia editor Steve Rosenberg reports, although some imported items are no longer available.
All Russian flights have been banned from US, UK, EU and Canadian airspace. International sanctions would have caused economic collapse if they'd come out of nowhere, Chris Weafer of Macro Advisory in Moscow told the BBC. But because Russia has experienced sanctions since 2014, it has been able to make some adjustments.
The UK has also banned private jets chartered by Russians.
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.
How has Russia reacted?How has Russia reacted?
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, 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. It is blocking interest payments to foreign investors with government bonds, and banning Russian firms from paying overseas shareholders.
And it has stopped foreign investors who hold billions of dollars worth of Russian stocks and bonds from selling them. And it has stopped foreign investors who hold billions of dollars worth of Russian investments from selling them.
Could Russia turn to China as sanctions bite?