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| Version 6 | Version 7 |
|---|---|
| Ukraine: What sanctions are being imposed on Russia? | Ukraine: What sanctions are being imposed on Russia? |
| (about 20 hours later) | |
| The US government has banned Russian flights from American airspace and Britain is targeting leading figures in Belarus. | |
| They're the latest of a wide range of sanctions carried out against Russia and Belarus by the international community, following the invasion of Ukraine. | |
| What is a sanction? | What is a sanction? |
| A sanction is a penalty imposed by one country on another, often in order to stop it acting aggressively or breaking international law. | A sanction is a penalty imposed by one country on another, often in order to stop it acting aggressively or breaking international law. |
| Sanctions are often designed to hurt a country's economy or the finances of individual citizens such as leading politicians. They can include travel bans and arms embargoes. | Sanctions are often designed to hurt a country's economy or the finances of individual citizens such as leading politicians. They can include travel bans and arms embargoes. |
| They are among the toughest measures nations can use, short of going to war. | They are among the toughest measures nations can use, short of going to war. |
| What sanctions are Western nations imposing? | What sanctions are Western nations imposing? |
| Financial sanctions | Financial sanctions |
| Western leaders have frozen the assets of Russia's central bank, limiting its ability to access $630bn (£470bn) in international dollar reserves. | |
| In co-ordination with the US and the European Union (EU), the UK government has also banned British people and businesses from making transactions with the Russian central bank, its finance ministry and its wealth fund. | |
| Russia central bank urges calm amid cash run fears | Russia central bank urges calm amid cash run fears |
| The EU, US, UK and allies have also agreed to remove selected Russian banks from the Swift messaging system, which enables the smooth transfer of money across borders. The ban will delay the payments Russia gets for exports of oil and gas. | |
| What is Swift and why is banning Russia so significant? | What is Swift and why is banning Russia so significant? |
| EU measures have announced it will be targeting 70% of the Russian banking market and key state-owned firms, including defence firms. | |
| Other sanctions in the UK include: | Other sanctions in the UK include: |
| major Russian banks are being excluded from the UK financial system, stopping them from accessing sterling and clearing payments | major Russian banks are being excluded from the UK financial system, stopping them from accessing sterling and clearing payments |
| all Russian banks will have their assets frozen | all Russian banks will have their assets frozen |
| major Russian companies and the state will be stopped from raising finance or borrowing money on UK markets | major Russian companies and the state will be stopped from raising finance or borrowing money on UK markets |
| a limit will be placed on deposits Russians can make to UK bank accounts. | a limit will be placed on deposits Russians can make to UK bank accounts. |
| Trade with Russia | Trade with Russia |
| The UK, EU, US and other countries have announced curbs on products that can be sent to Russia. These include dual-use goods, which are items that could have both a civilian and military use, like high-tech items, chemicals or lasers. | The UK, EU, US and other countries have announced curbs on products that can be sent to Russia. These include dual-use goods, which are items that could have both a civilian and military use, like high-tech items, chemicals or lasers. |
| The EU is aiming to make it impossible for Russia to upgrade its oil refineries with an export ban on certain materials. It is also banning the sale of aircraft and equipment to Russian airlines in an attempt to damage its economy and connectivity. | The EU is aiming to make it impossible for Russia to upgrade its oil refineries with an export ban on certain materials. It is also banning the sale of aircraft and equipment to Russian airlines in an attempt to damage its economy and connectivity. |
| Germany has put on hold permission for the Nord Stream 2 gas pipeline from Russia to Germany to open. | Germany has put on hold permission for the Nord Stream 2 gas pipeline from Russia to Germany to open. |
| Targeting individuals | Targeting individuals |
| Western governments have imposed sanctions on some individuals, including a "hit list" of powerful, wealthy businessmen and women known as oligarchs. | Western governments have imposed sanctions on some individuals, including a "hit list" of powerful, wealthy businessmen and women known as oligarchs. |
| Also targeted are Russian President Vladimir Putin and his Foreign Minister Sergei Lavrov, whose assets in the US, EU, UK and Canada will be frozen and, in the case of the US, a travel ban imposed. | Also targeted are Russian President Vladimir Putin and his Foreign Minister Sergei Lavrov, whose assets in the US, EU, UK and Canada will be frozen and, in the case of the US, a travel ban imposed. |
| The EU, UK, US and Canada have launched a transatlantic taskforce to identify and freeze the assets of sanctioned individuals and companies, targeting more "officials and elites close to the Russian government, as well as their families". | |
| The UK is limiting the sale of citizenship via "golden passports", which have allowed wealthy Russians to become citizens. | The UK is limiting the sale of citizenship via "golden passports", which have allowed wealthy Russians to become citizens. |
| Who is not on the UK sanctions list? | Who is not on the UK sanctions list? |
| West orders sanctions on Russia's Putin and Lavrov | West orders sanctions on Russia's Putin and Lavrov |
| Travel | Travel |
| The US has banned all Russian flights from its airspace. | |
| The measure was announced by President Biden in his State of the Union address, and follows similar bans by Canada, the EU and the UK. | The measure was announced by President Biden in his State of the Union address, and follows similar bans by Canada, the EU and the UK. |
| What about Belarus? | What about Belarus? |
| Neighbouring Belarus, which has been accused of facilitating Russia's invasion, is also facing fresh sanctions on top of those imposed after its disputed election in 2020. | Neighbouring Belarus, which has been accused of facilitating Russia's invasion, is also facing fresh sanctions on top of those imposed after its disputed election in 2020. |
| The EU has pledged to stop exports by Belarus' "most important sectors", including tobacco, wood and cement. | The EU has pledged to stop exports by Belarus' "most important sectors", including tobacco, wood and cement. |
| It is also introducing the same dual-use restrictions that it imposed on Russia. | It is also introducing the same dual-use restrictions that it imposed on Russia. |
| It said it would also sanction individuals who are "helping the Russian war effort". | It said it would also sanction individuals who are "helping the Russian war effort". |
| Belarusian President Alexander Lukashenko is an ally of Vladimir Putin | Belarusian President Alexander Lukashenko is an ally of Vladimir Putin |
| The US has sanctioned a number of Belarusian individuals and entities, including state-owned banks and defence companies. | The US has sanctioned a number of Belarusian individuals and entities, including state-owned banks and defence companies. |
| The UK has sanctioned four senior defence officials, and two military enterprises. | |
| How has Russia reacted to the sanctions? | How has Russia reacted to the sanctions? |
| After financial sanctions came into effect, the Russian currency, the rouble, slumped by 30% against the US dollar. | After financial sanctions came into effect, the Russian currency, the rouble, slumped by 30% against the US dollar. |
| Russia has more than doubled its key interest rate in an attempt to stem the decline. | Russia has more than doubled its key interest rate in an attempt to stem the decline. |
| The EU is worried many wealthy Russians are now converting their rouble savings into cryptocurrencies such as Bitcoin to get around the sanctions. | |
| About $15bn-worth of roubles are now being exchanged for cryptos every day - a threefold jump on the level before sanctions on Russia were imposed. | |
| However, many of the world's largest crypto exchanges are refusing to impose a blanket ban on Russian clients. This is despite a plea from the Ukrainian government for one. | |
| Russia's foreign ministry has threatened sanctions of its own against the West. This may include reducing or shutting off gas supplies to Europe. | Russia's foreign ministry has threatened sanctions of its own against the West. This may include reducing or shutting off gas supplies to Europe. |
| British airlines have now been banned from Russian airspace or landing at Russian airports, and in a retaliatory move, Russia's biggest airline, Aeroflot, said on Sunday it would cancel all flights to European destinations until further notice. | British airlines have now been banned from Russian airspace or landing at Russian airports, and in a retaliatory move, Russia's biggest airline, Aeroflot, said on Sunday it would cancel all flights to European destinations until further notice. |