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Homechevron_rightWorldchevron_rightSeveral countries...

Several countries impose tough sanctions on Russia for the war in Ukraine

Several countries impose tough sanctions on Russia for the war in Ukraine

Washington: Several countries around the world are imposing fresh sanctions against Russia over its invasion of Ukraine.

On Friday, US President Joe Biden extended his country's measures against Russia to include sanctions on President Vladimir Putin and his Foreign Minister Sergei Lavrov, including a travel ban for the two statesmen.

Biden was the first world leader to announce sanctions, hours after Putin declared a "military operation" into Ukraine.

The first tranche will hit four Russian banks, cut off more than half of Russia's technology imports, and target several of the country's oligarchs.

Energy giant Gazprom and 12 other major companies will be barred from raising capital in Western financial markets.

Defence and aeronautics technology exports to Russia are also restricted, and 24 Belarusian individuals and organizations accused of supporting and aiding the Kremlin's invasion of Ukraine will face penalties.

The European Union added Putin and Lavrov to its sanctions list as well on Friday.

The step was agreed in an EU foreign ministers' meeting in Brussels held to adopt a broad package of sanctions on Russia that the bloc's foreign policy chief Josep Borrell has called the "harshest" ever drawn up by the group.

The UK government as well ordered all assets of Putin and Lavrov frozen and banned oligarch jets from its airspace on Friday.

The Treasury issued a financial sanctions notice against the two men, adding them to a list of Russian oligarchs who have already had their property and bank accounts in the UK frozen.

Previously, Britain had frozen the assets of Russian bank VTB and arms manufacturer Rostec, and had also banned Russia's flagship carrier Aeroflot from its airspace, in addition to targeting five more oligarchs close to Putin.

Canada's Prime Minister Justin Trudeau echoed other world leaders Friday, also imposing sanctions on Putin and Lavrov.

Trudeau additionally signaled "Canada's support to remove Russia from the SWIFT payment system, a critical part of the global banking system."

India has so far refrained from joining the sanctions. Japan's Prime Minister Fumio Kishida criticised Putin's attempts to "change the status quo by force," and imposed measures targeting exports of semiconductors -- currently undergoing a global shortage -- and financial institutions.

Neighboring Taiwan announced it would join in sanctions as the Kremlin's actions pose "the most serious threat... to the rules-based international order."

In Australia, Prime Minister Scott Morrison unveiled a "second phase" of sanctions targeting 25 individuals, four financial institutions, and entities involved in developing and selling military gear.

Another wave would be imposed once "those responsible for these egregious acts" are identified, he said, which could include targeting members of Russia's parliament.

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TAGS:sanctions against RussiaRussia-Ukraine war
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