Sanctions aimed at Russia have been in place since 2014, following its
annexation of Crimea and ongoing role in the destabilisation of eastern
Ukraine. In the build-up to the current crisis in Ukraine, Western allies warned Russia
that any breach of Ukraine’s territorial integrity and sovereignty would be met
with unprecedented economic measures. Following Russia’s recognition of
independence of the self-proclaimed Luhansk People’s Republic and the
Donetsk People’s Republic, and the deployment of Russian troops under the
guise of peacekeeping operations, initial sanctions were introduced by the
West.
On 24 February 2022, Russian military forces crossed the border into Ukraine
and are currently conducting a full-scale assault on the country. The EU, UK,
US, and other allies, have responded with significant coordinated sanctions,
targeting Russia’s financial sector, strategic sectors of the economy such as
defence and aerospace, and individuals close to the Putin regime. This briefing summarises the sanctions in place to March 1st 2022.
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