US, UK, and European Union announce stringent sanctions against Russia

Washington/ London/ Brussels: – The United States, United Kingdom, and European Union have announced sanctions against Russia after it invaded Ukraine and conducted military operations. The sanctions are imposed on Russian President Vladimir Putin, senior leaders of the Russian government, affiliated businessmen, banks, and the business community. The West has targeted sanctions on Russian companies associated with the military and the semiconductor industry. This is the second time that Western nations have imposed sanctions on Russia this week.

The United States, the European Union and Japan imposed sanctions on Russia two days ago after Russia recognized the independence of two separatist regions in Ukraine. President Putin’s close associates, including two significant Russian banks, and about 350 members of the Russian parliament, were banned. British media claimed that the sanctions imposed are too small and will not affect Russia. Therefore, after Russia invaded Ukraine, it was expected that the West would impose tougher sanctions.

Moreover, Russia’s action to invade Ukraine and conduct military operations on Thursday was condemned by the US, UK, European Union, Japan, South Korea, and Australia. The sanction imposed by the US, UK and European Union excluded the energy supplies. The countries in Europe are dependent on natural gas supply from Russia through pipelines passing through Ukraine. Due to the ongoing tensions and conflict between Russia and Ukraine, the gas prices in Europe had escalated. Therefore, the European Union is very aware of the consequences of acting against the energy supplies.

The US and UK have claimed that the sanctions imposed on Russia are very stringent. US President Joe Biden claimed that these sanctions would have a long-standing effect on the Russian economy. Russia has been banned from using the SWIFT payment system, which will affect Russia’s banking transactions as per claims of the US media. International media has highlighted that imposing tougher sanctions further would have adverse consequences for the European countries.

The United Kingdom announced 10-point sanctions against Russia. Accordingly, the United Kingdom froze the accounts of two of Russia’s largest banks. The Russian President Vladimir Putin, his family and close associates have also been covered under the sanctions. The United Kingdom has banned Russian passenger airlines in its airspace. Moreover, Western allies have banned the export of major high-tech goods to embarrass the Russian military. The sanctions target Russia’s defence and aerospace sectors, including semiconductors, telecommunications, security equipment, lasers and sensors.