Section: Sanctions
What sanctions have Ukraine and the world imposed against Russia, and have they been effective?
The sanctions imposed by the world against Russia in response to its invasion of Ukraine had consequences for its economy even in the first year of their implementation. However, they have not yet led to the collapse of the country’s economy. This is partially because at the beginning of the full-scale war, allies implemented restrictions...
Russia was predicted to experience a 30% drop in oil production and a 15% decrease in GDP, but this did not happen. What went wrong?
March 2022. The harshest sanctions in history against Russia are being discussed in the government offices of many countries. With each new package of restrictions, the forecasts for the Kremlin looked increasingly bleak. Russia was predicted to have a 30% drop in oil production, a 15% decrease in GDP, and a decrease in imports of up to 50%....
Frozen Russian assets can start working for Ukraine today. How can this be done?
According to recent calculations by the Kyiv School of Economics, Russian aggression has caused Ukraine damages exceeding $150 billion, which include estimated physical losses, destroyed and damaged infrastructure, and enterprises. Furthermore, Ukraine is forced to ask the civilized world for billions of dollars to compensate for lost tax...
A sanctions bag full of holes: what the West must do to stop Russia
“No Money, No War!” — This is one of the postulates of history. That’s why, in the early days of the full-scale invasion, an entirely appropriate response from the West was an attempt to cut off the sources of funding for Putin’s regime. Sanctions were meant to be a “bag over the head” of the Russian economy....
How the West loses to Russia in energy sanctions
Western countries fought so vigorously against “oil” dictators in Iraq, Iran, Libya, and Venezuela that they failed to notice the biggest one right under their noses. The USA, UK, and EU not only bought Russian oil and gas for decades but also built pipelines, displacing other importers in favor of the Kremlin, and helped the latter...
20 billion for Putin. Why don’t Western countries dare to impose sanctions against Russian metals and diamonds?
Over the past year, European Union countries have refused or restricted imports of Russian oil and oil products, coal, and natural gas. These are the main but by no means the only, sources of revenue for the Kremlin. If we do not take into account the sensitive issues of grain and fertilizer sales, there are a number of other Russian goods that...
Austria froze Russian assets worth almost $2B
The Minister of Finance of Austria Magnus Brunner informed on April 20, 2023, on Twitter, that Austria has frozen Russian financial assets worth almost $2 billion. Source: The Minister of Finance of Austria Magnus Brunner “Today I received the US Under Secretary of the Treasury Brian Nelson, in Vienna. The strategic axis between EU &...
G7 countries agreed to respond better to the evasion of sanctions and the weapons supply to Russia
The Ministry of Foreign Affairs of Japan informed on April 17, 2023, that the foreign ministers of the Group of Seven (G7) countries during the second day of the meeting in the Japanese city of Karuizawa, agreed to strengthen monitoring of compliance with sanctions against the Russian Federation and better respond to the supply of arms by third...
USA announced new sanctions against Russia
The US Department of the Treasury noted on April 12, 2023, that the US government has imposed sanctions against 25 people and several dozen organizations involved in Russian profit-making schemes mediated by oligarch Alisher Usmanov. Source: The US Department of the Treasury “Today, the US Department of the Treasury’s Office of Foreign...
Norway introduced new sanctions against 87 Russians
The Norwegian Government noted on April 4, 2023, that it introduced a new package of sanctions against Russia and its regime. Source: the Government of Norway “Norway has introduced a new round of sanctions against President Putin and the Russian regime. This corresponds to measures in the EU’s tenth sanctions package, which was...