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Factbox-Russia hit with sanctions from around the world after Ukraine invasion -Breaking

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© Reuters. Russian President Vladimir Putin meets Alexander Shokhin, head of Russian Union of Industrialists and Entrepreneurs in Moscow on March 2, 2022. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS ATTENTION EDITORS – THIS IMAGE WAS

LONDON, (Reuters) – The European Union and the United States have imposed a range of sanctions on Russia following its invasion of Ukraine.

Additionally, they have imposed travel bans and asset freezes on many Russians including President Vladimir Putin.

Here is a list of major sanctions that have been imposed on countries around the globe.

EUROPEAN UNION

It announced Wednesday that seven Russian banks have been excluded from the SWIFT messaging network, which supports global transactions.

They are Russia’s second largest lender VTB.

Gazprombank and Sberbank Russia’s most important lender have been excluded as these are main channels of payments for Russian oil-and gas. EU countries still buy Russian oil and gasoline. Sberbank announced Wednesday however that it is exiting nearly all European markets.

EU officials have also blocked transactions by Putin and frozen all assets of the Russian central bank. It is intended to prevent the Russian central banking from liquidating its assets. This bans EU investors also from trading Russian state bonds.

Russia is being targeted by the EU for its technological leadership in critical areas, including high-tech software and components.

Nord Stream 2, a pipeline linking Russia and Germany that was recently finished, was awaiting EU approval before German authorities put the certification on hold following Russia’s invasion of Ukraine.

Russia has been banned from flying into the EU’s airspace, and all Russian planes must be stopped from landing, taking off or flying over it.

Russia has prohibited the sale, transfer, export or supply of any aircraft or aircraft parts to Russia.

EU increased existing sanctions to goods that could be used for military or civilian purposes. This targeted the Russian-Beloritan military-industrial complex. It also limited access to advanced technology, such as drones, software and encryption, semiconductors and advanced electronics.

The bloc also has a blacklist of prominent Russian people, such as Putin and Foreign minister Sergey Lavrov. But they are exempted from an EU travel ban.

Putin remains one of three leaders in the world that are currently blacklisted by EU. The others include Bashar al Assad from Syria, and Alexander Lukashenko, both of Belarus. There are currently 654 people and 52 entities on the blacklist.

UNITED STATES

America has placed sanctions against Russia’s central banks and key wealth sources, preventing Americans from participating in transactions that involve the bank, financial ministry, and national wealth fund.

Along with Britain, it also announced sanctions that effectively expelled most Russian banks assets from the two countries. The two biggest Russian lenders, VTB Bank (Sberbank) are their targets.

Washington will implement export controls to limit Russian access to information security equipment and lasers as well as semiconductors, computers, telecommunications, lasers, or other sensors that are necessary to maintain its military capability.

USA and EU sanctions already exist against Russia’s defence and energy sectors. Gazprom is the Russian state-owned gas company. Gazpromneft, which owns Gazpromneft oil and Lukoil oil producers, Rosneft (Surgutneftegaz) are also under US sanctions.

Washington imposed sanctions against the company responsible for Russia’s Nord Stream 2 natural gas pipeline last week.

United States closed their airspace to Russian aircraft.

BRITAIN

Along with the United States of America and EU, Britain banned British companies from transacting with Russia’s central banking, financial ministry, and sovereign wealth fund.

The UK has taken measures to stop Russian firms from issuing money market instruments and transferable securities in the UK. Russia can also not sell its sovereign debt within the UK.

Britain banned a variety of Russian banks accessing the UK for sterling payments and cleared funds through the UK.

London also implemented additional measures to increase its restrictions on Russia’s trade. The ban on the export of certain high-end, critical equipment and parts in sectors such as electronics and telecommunications will be included.

Britain will also pass legislation restricting the deposits Russian nationals may make to UK bank accounts. At British banks, the limit is 50,000 Pounds ($66,860).

Britain banned Russian aircraft from its airspace.

JAPAN

Japan joined the international sanctions against Russia’s central banks by restricting transactions, Fumio Kirshida, Prime Minister of Japan said Monday.

Tokyo has placed export restrictions on semiconductors, high-tech products and related items and suspended visa issuance to a number of Russian entities and individuals.

CANADA

Canada closed its ports to Russian-owned vessels on Tuesday. It also stated that the Russian oligarchs’ and company holdings in Canada are being reviewed.

It previously had announced steps to isolate Russia, including the imposition of sanctions on President Putin, closing Canadian skies to Russian planes and banning oil imports.

AUSTRALIA

Australia has put sanctions on Russia that target several elite members and politicians.

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