A Second Opinion: Worldwide Sanctions Against Russia Due to its Invasion of Ukraine

Putin is said to be ‘indifferent’ to Western sanctions against him as he has ‘no assets abroad´.
Opposition members and investigative journalists claim that, although on paper
his assets seem modest, Putin has a hidden fortune

by Mary Foran

Countries around the world have imposed sanctions against Russia over its invasion of Ukraine, where the war rages on with destructive force while Ukrainians fight to defend their country.

Ukrainian service member walks in village, east Kyiv, ravaged by Russia. Use of destructive force has earned Russia sanctions from around the world.

The United States, the European Union, the United Kingdom and Canada have banned certain Russian banks from SWIFT, the high security network that facilitates payments among 11,000 financial institutions in 200 countries. Meanwhile, Germany has halted certification of the Nord Stream 2 gas pipeline on the heels of Moscow’s military operation.

The EU, the US, the UK, Japan, Switzerland, Australia and Taiwan all hit Moscow with new injunctions, condemning Russia’s incursion into Ukraine.

The Russian ruble hit record lows last week, sliding as much as 30% against the dollar while the Russian central bank more than doubled interest rates to 20%. Russia’s stocks and currency plummeted after Putin ordered troops into Eastern Ukraine.

Putin is said to be “indifferent” to Western sanctions against him as he has “no assets abroad”. Opposition members and investigative journalists claim that, although on paper his assets seem modest, Putin has a hidden fortune.

U.S. President Joe Biden meets with Ukrainian refugess in Warsaw, Poland. He suggested that Putin should no longer be allowed to lead Russia.

Countries sanctioning Russia with banning technology transfers and economic restrictions include the EU, Switzerland, France, Japan, Australia, New Zealand, Taiwan, the US and the UK.

Importing of Russian oil and gas has also been banned by several countries including the US, where the high prices for gasoline are being felt by the average consumer.

President Biden warned in his latest speech that food prices would continue to go up and their might be shortages due to the Ukrainian war. He suggested that Putin should no longer be allowed to be in power.

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Images
Featured image/Just Click’s With A Camera, PD via Flickr
Quote mark/Oakus 53, CC BY-SA4.0 via Wikimedia Commons
Ukrainian service member in ravaged Kyiv/Just Click’s With A Camera, PD via Flickr
Biden with refugees in Warsaw/Just Click’s With A Camera, PD via Flickr