EU, Britain, US, Canada, Australia and Japan Impose Aanctions on Russia Amidst Putin’s Recognition of Ukrainian Occupied Regions of Donetsk and Luhansk
By Natalia Kochiashvili
Thursday, February 24, 2022
Following Russia's recognition of the Ukrainian-occupied Donetsk and Luhansk regions of Ukraine, the European Union imposed sanctions on members of the Russian Duma, 27 individuals and organizations, including banks that have been sponsoring separatist activities in eastern Ukraine.
According to Reuters, the sanctions, which typically include travel bans and asset freezes, will apply to all members of Russia's lower house of the Duma. Euronews informed that the sanction will be imposed on all Duma deputies (351) who supported the recognition of Donetsk and Luhansk.
German Chancellor Olaf Scholz has decided to suspend certification for the Nord Stream 2 pipeline. Scholz noted that the resumption of the certification process depends on Russia's actions.
The Nord Stream 2 pipeline is to supply Russian natural gas to Germany bypassing Ukrainian territory. The US president has repeatedly said that if Russia attacks Ukraine, then Nord Stream 2 will not work.
US President Joe Biden has held a briefing on Ukraine and announced the imposition of sanctions on Russia as well. According to Biden, the sanctions were imposed on 2 major financial institutions, VEB and Promsvyazbank, known as the Bank of the Russian Military. The first wave of sanctions will also include Russian financial institutions, the sanction will affect Russia's foreign debt, after which Russia will no longer receive funding from the Western financial market. Measure will also target the Russian elite and their families.
According to Biden, Putin's last actions were to launch an invasion of Ukraine, so the United States also launched retaliatory actions. In response to the military escalation initiated by Russia, it was decided that a part of the American military will be deployed from the European contingent to the Baltic states.
“Today, in response to Russia's decision not to withdraw its troops from Belarus, I have ordered the transfer of American troops and armaments to Europe to strengthen the Baltic states of Estonia, Latvia and Lithuania,” Biden said adding that this move is defensive in nature and they do not want to confront Russia, although it is a clear signal to emphasize that the US will protect every inch of NATO territory.
Britain is imposing sanctions on Gennady Timchenko and 2 other billionaires, brothers Igor and Boris Rothenberg. These individuals have close ties to Putin. Shares of billionaires in the UK will be frozen and travel will also be banned. Sanctions will also be imposed on 5 banks - Rossiya, Genbank, Promsvyazabank and Black Sea Bank.
Canada imposes sanctions on Russia's sovereign debt. PM Trudeau noted that the government will impose sanctions on Russian lawmakers who have supported recognizing the independence of Ukraine's breakaway regions. According to him, Canada will apply additional sanctions against the two Russian banks, which are backed by the Russian state and will cut off all financial relations with them.
Australia announced travel and financial sanctions against 8 members of the Security Council of the Russian Federation. Strict economic sanctions will also be imposed on the Luhansk and Donetsk regions. Australia will also impose sanctions on Russian banks.
Japanese sanctions include a ban on Russian stocks; Also, the assets of some Russian citizens will be frozen and they will be banned from traveling to Japan.
Meanwhile, the National Security and Defense Council of Ukraine, declared a state of emergency on the entire territory of Ukraine except the Donetsk and Luhansk regions, which will be approved by the Verkhovna Rada of Ukraine. Regulations will vary by region. According to Security Council Secretary Oleksay Danilov,, due to the situation in Donetsk and Luhansk, a state of emergency can not be declared there.
According to the Deputy Prime Minister of Ukraine, Minister of Digital Transformation, Mikhail Fedorov, cyber-attacks on Ukrainian state agencies started again on February 23. The websites of the Ministry of Defense of Ukraine, the Armed Forces and banks were also shut down on 15 February.
