Russia is in the bad books of almost every country. The globe is currently witnessing what is considered the third world war between Ukraine and Russia. Despite the appeal of his citizens, Russian President Vladimir Putin continued deploying armed forces into Ukraine. As the conflict in Ukraine escalated, nations throughout the world offered support to the affected country by imposing sanctions on Russia’s leadership.
An array of countries including the 27 nations in the European Union have imposed sanctions on Russia. All of them condemned the invasion of Ukraine.
Switzerland mirrors EU sanctions on Russia
Switzerland had been sitting on the fence displaying a neutral stance on the whole subject. However now, the Swiss government affirmed that it would adopt the sanctions issued by the European Union [EU] on Russia. The sanctions would reportedly freeze all the assets that Putin, Prime Minister Mikhail Mishustin, and Foreign Minister Sergey Lavrov entail.
Not only that, but the authorities chose to suspend aviation travel into the nation, particularly for individuals associated with Putin and his regime.
United States
The US opted to go after Russia’s central bank, which was the most vulnerable part of the government. The US implemented sanctions that prevented all Americans from doing business with Russia’s central bank. This action was taken when it was discovered that the bank was attempting to shift assets.
An official from the Biden administration said, “there will be a considerable volume of asset flight starting on Monday morning from institutions throughout the world.”
The authorities also warned cryptocurrency exchanges to keep an eye on Russian consumers. This was primarily to ensure that they did not circumvent the sanctions imposed.
South Korea
South Korea’s decision to slap Russia with sanctions came as a surprise to many. As part of this, the country decided to prohibit exports of strategic items. This included computers, electronics, semiconductors, lasers, sensors, aerospace and marine equipment, navigation, and avionics. Seoul even went on to block certain banks of the country from the SWIFT international payments system.
In light of South Korea‘s close ties with the United States, the administration said that it will support Western-led sanctions against Putin’s regime.
Singapore
Singapore’s move to put limitations on the Russian government, like South Korea’s, surprised many. Singapore seldom imposes sanctions of its own, preferring to rely on UN Security Council measures.
Regardless, Singapore imposed restrictions on the export of items that could be used as weapons in Ukraine. In addition to this, Russian banks and financial transactions linked to Russia were also blocked.
Australia
Several Australians were reportedly eager to wage a war against Russia. Ukraine’s Charge d’Affaires in Australia, Volodymyr Shalkivskyi, revealed that several people phoned the embassy asking to join the fight against Russians.
The sanctions put in place by the Australian government include travel bans along with financial restrictions against the President, Defence Minister, Prime Minister, Foreign Minister as well as Internal Affairs Minister.
Monaco
One of the smallest countries in the world and every rich Russian’s tax haven, Monaco decided to support Ukraine by financially tearing down Russia. Prince Albert of Monaco said,
“The Principality has adopted and implemented, without delay, procedures for freezing funds and economic sanctions identical to those taken by most European States.”
Canada
Canada has chosen to go beyond imposing sanctions on Russia. It kicked Putin’s administration out of the SWIFT system, as well as barring all crude oil imports from the nation. Furthermore, Canada supported Ukraine by supplying anti-tank weapons and other ammunition.
Taiwan
Taiwan decided to follow the sanctions imposed by its counterparts and banned Russian banks from engaging in SWIFT transactions. Additionally, speaking about the export of semiconductors the Economy Ministry said,
“Domestic semiconductor manufacturers have also expressed that they will abide by the laws and closely cooperate with government measures.”
Japan
Japan suspended visas for the officials of the Russian government. Exports and imports were also banned. Additionally, the issuance and the trading of any new Russian sovereign bonds in Japan were restricted.
The Russian government is most likely to suffer as a result of the numerous sanctions in place. The citizens, rather than the leaders and the government, would be the ones who would suffer the most.