Summary
Amidst the ongoing dispute between Russia and Ukraine, a period of sanctions on Russia is also going on. Meanwhile, the European Union is preparing to impose the toughest sanctions ever on Russia.
The crisis between Russia and Ukraine has become even more serious. Australia has claimed that Russia’s army may soon launch a full-fledged invasion of Ukraine. In the midst of all this, the chain of sanctions on Russia is also continuing. Countries like Japan, Australia, Britain and America have announced economic sanctions on Russia. At the same time, it is believed that the sanctions imposed by the European Union (EU) on Russia may be the strictest. Ukraine has also raised the demand for strict sanctions on Russia.
The 27 members of the European Union have agreed to impose sanctions targeting Russian officials over actions in Ukraine. The sanctions announced by the EU on Wednesday could target Russia’s defense minister, the commander-in-chief of Russia’s air force, the Black Sea Fleet and 351 Duma representatives. These sanctions are to be signed by EU foreign ministers. If allowed, the EU will freeze the assets of 23 people, three banks and an internet troll factory and ban their travel.
Britain has warned of imposing more sanctions on Russia
Britain also warned on Wednesday that it would impose additional sanctions on Russia in the event of an invasion of Ukraine. Foreign Minister Liz Truss said the sanctions announced by Prime Minister Boris Johnson in parliament on Tuesday against five Russian banks and three billionaires linked to Russian President Vladimir Putin are serious. We still have some other solutions. We are imposing sanctions in coordination with the US and UK to ensure that Putin does not use divide and rule tactics among our allies.
Germany has stopped the approval of the Nord Stream 2 gas pipeline
Earlier, German Chancellor Olaf Scholz announced a decision to halt the approval of the Nord Stream-2 gas pipeline through the Baltic Sea. The massive 10 billion euro project was expected to allow Russia to sell more natural gas to Europe. Germany’s foreign ministry said on Tuesday night that the G-7 foreign ministers agreed to intensify the restrictive measures in response to Russia’s action. Defense ministers of the Baltic countries have also urged world leaders to impose sanctions on Russia.
Japan’s Prime Minister also announced Russia sanctions
Earlier, the Japanese prime minister announced sanctions targeting Russia and Ukraine, the two separatist regions whose independence is recognized by Russia. Prime Minister Fumio Kushida said on Wednesday that our government would impose sanctions on the issuance and distribution of Russian government bonds in response to Russia’s actions in Ukraine. Japan will ban the issuance of visas to people belonging to these two regions, confiscate their properties and also impose restrictions on trade with the regions.
US Secretary of State cancels meeting with Russian counterpart
US Secretary of State Antony Blinken has canceled a meeting with his Russian counterpart in Geneva in view of the current developments. He said on Tuesday that Russia’s action showed that it was not at all serious about adopting a diplomatic route to resolve the crisis. That is why I have canceled my meeting with Russian Foreign Minister Sergei Lavrov on Thursday. President Biden has also said that the US is ordering tough economic sanctions against Russian banks and oligarchs.
Expansion
The crisis between Russia and Ukraine has become even more serious. Australia has claimed that Russia’s army may soon launch a full-fledged invasion of Ukraine. In the midst of all this, the chain of sanctions on Russia is also continuing. Countries like Japan, Australia, Britain and America have announced economic sanctions on Russia. At the same time, it is believed that the sanctions imposed by the European Union (EU) on Russia may be the strictest. Ukraine has also raised the demand for strict sanctions on Russia.
The 27 members of the European Union have agreed to impose sanctions targeting Russian officials over actions in Ukraine. The sanctions announced by the EU on Wednesday could target Russia’s defense minister, the commander-in-chief of Russia’s air force, the Black Sea Fleet and 351 Duma representatives. These sanctions are to be signed by EU foreign ministers. If allowed, the EU will freeze the assets of 23 people, three banks and an internet troll factory and ban their travel.