What are sanctions?

GLOBAL leaders have issued sanctions to show their disapproval of Russia but what does that actually mean?

From Chelsea Football Club to oil imports, industries connected to Russia and Russian oligarchs are being hit with government sanctions.

What are sanctions?

A sanction is a political move to show disapproval at the actions of a country, person or business.

They can be, but are not limited to, diplomatic, economic, military or sport related issues.

The idea is to block the ability of the sanctioned individual to continue their behaviour or send a message.

Powerful Russian oligarchs who are conducting business in the UK have seen their assets frozen in response to the Russian invasion of Ukraine.

This is an attempt to avoid direct military action but still show disapproval of the attack.

Read More on Sanctions


Why are sanctions imposed?

The Russian attack is not the only reason a sanction might be imposed.

Watchlists and sanction lists for illegal actions are set up.

Criminal activities such as money laundering, terrorism, drug trafficking or human rights violations can land you on one of these lists.

The sanctions are intended to limit the abilities of the sanctioned individual, business and country.

Economic sanctions by countries are meant to be a deterrent, pushing the other country to change their behaviour.

latest from russia

RED LINE

Live updates as Nato could STEP-IN if Putin crosses chemical weapons 'red-line'

ROMAN’S ARMY

Sanctioned Abramovich ‘may have helped make Putin’s TANKS for Ukraine war'

IT'S YACHT MINE

Cops swarm mystery £532million superyacht rumoured to be Putin's

INTO HELL

Ukrainians bury loved ones in mass graves after 'apocalyptic' Russian bombing

What does it mean if you are sanctioned?

If you are sanctioned it means you have been formally warned to alter your behaviour.

For Russia, the sanctions have meant that the banks are excluded from UK systems and their assets frozen.

This means they cannot access £470 billion of their revenue, which has caused them to double it's key interest rate.

Russian citizens themselves have limits on the deposits they can place in UK banks.

Many companies such as McDonald's, Coca-Cola and Starbucks have suspended trading with Apple, Jaguar Land Rover and Netflix following suit.

The US has banned all imports of Russian oil and gas, a sanction that the UK will also imposed by phasing out imports by the end of 2022.

All this serves to cripple Russia's economic power which in turn could impact their ability to continue the war.

All you need to know about Russia’s invasion of Ukraine

Everything you need to know about Russia’s invasion of Ukraine…

  • Why is Russia invading Ukraine?
  • Will the UK go to war?
  • How can I join the Ukraine foreign legion?
  • What can I do to help Ukraine?
  • Who is Ukraine's president Volodymyr Zelenskyy?
  • How much gas does the UK get from Russia?
  • Is Russia a part of Nato?
  • Does Russia have nuclear weapons?
  • Why is Ukraine not in Nato?
  • How big is the Russian army?
  • What is Article 5 of the Nato treaty?
  • What is the Minsk agreement?
  • Which countries were in the Soviet Union?
  • What does the Z mean on Russian tanks? Meaning behind symbols explained

    Source: Read Full Article