After the deployment of Russian forces in the separatist territories of eastern Ukraine, described as “the beginning of an invasion” by Joe Biden, the door to diplomacy seems to have closed.
The meeting between the American Secretary of State and his Russian counterpart has been canceled, and a Biden-Putin summit, announced by the French government, is "no longer relevant".
In response, many Western countries have announced sanctions against Moscow.
Russia recognized the independence of the pro-Russian regions of Donetsk and Luhansk on Monday.
Vladimir Putin's statement immediately provoked a litany of condemnations from the international community – with the exception of China and Venezuela – followed by a slew of sanctions.
20 Minutes
takes stock of this first salvo, which promises to harden in the event of an invasion.
Germany suspends permit for Nord Stream 2 gas pipeline
This is probably the most symbolic sanction: Germany has decided to suspend the certification of the Nord Stream 2 gas pipeline. The halt, perhaps definitive, to this pharaonic project was given by the German Chancellor himself , while Ukraine was crying out for its suspension.
The project will be subject to a political "reassessment" by the Ministry of the Economy because of the new "geopolitical situation", said Olaf Scholz.
Nord Stream 2 connects Russia to Germany via a tube under the Baltic Sea with a capacity of 55 billion m3 of gas per year, on the same route as its twin Nord Stream 1, operational since 2012.
Promoted by the Russian giant Gazprom, the project, estimated at more than 10 billion euros, was co-financed by five European groups in the energy sector – including the French Engie.
However, the project has been controversial since its birth.
Deputy Chairman of the Russian Security Council Dmitry Medvedev reacted on social networks to Berlin's announcement.
“Welcome to a new world where Europeans will soon pay 2,000 euros per cubic meter of gas!
“, he quipped in German.
The European Union bans Moscow from its market
The European Union wanted to do “very badly” to Moscow.
With this objective, the 27 have decided on a "package of sanctions" and this, unanimously specifies Jean-Yves Le Drian.
They will target economic relations between the two regions and the European Union, as well as "the ability of the Russian state and its government to access our financial market and European capital markets to refinance their debt", detailed the head of European diplomacy Josep Borrell.
“The sanctions will also target 27 individuals and entities that contribute to undermining or threatening Ukraine's territorial integrity, sovereignty and independence,” added Josep Borrell.
Today, we agree by unanimity, to respond robustly to #Russia's illegal actions against #Ukraine.
The EU sanctions package will hit
📍351 members of the Russian State Duma who voted for the recognition of the so-called LPR and DPR.
(1/4)
— Josep Borrell Fontelles (@JosepBorrellF) February 22, 2022
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Either "the actors in the defense sector who play a role in the invasion" of the country, "those who have launched a campaign of disinformation against Ukraine" and "the banks who finance Russian officials and other operations in these separatist territories.
These retaliatory measures could weigh on the value of the rouble, and by extension the purchasing power of Russian consumers for imported products.
They should be adopted this Wednesday evening or Thursday.
US financial sanctions
Joe Biden denounced the “beginning of a Russian invasion in Ukraine”.
Faced with the situation, Washington has decided to attack on three fronts: sovereign debt, the financing of military spending through two public banks and five oligarchs close to Russian President Vladimir Putin.
“We have cut off the Russian government, the Russian Central Bank and Russian sovereign wealth funds from all new funding from the United States,” detailed White House deputy national security adviser Daleep Singh.
Today, I announced the first tranche of sanctions in response to Russia's actions in Ukraine.
And if Russia goes further with this invasion, we stand prepared to take further steps as necessary.
pic.twitter.com/8t87wyMq6q
— President Biden (@POTUS) February 23, 2022
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Two Russian public banks, Vnesheconombank (VEB) and Promsvyazbank (PSB), are also targeted.
The first is the Kremlin “piggy bank,” according to Daleep Singh.
As for PSB, it is "crucial for the defense sector," said the Treasury Department.
Concretely, “these banks can no longer carry out transactions with the United States or with Europe (…) and their assets in our respective financial systems will be frozen,” said Daleep Singh.
If Russia “continues its aggression”, the United States is “ready to take further measures”.
The United Kingdom
Like its former partners in the European Union, the United Kingdom was quick to announce sanctions against Moscow.
In order to “hit Russia very hard”, London has sanctioned three Russian billionaires whose assets have been frozen in the United Kingdom and who will no longer be able to travel to British territory.
Boris Johnson also announced sanctions against five Russian banks: Rossiya, IS Bank, General Bank, Promsviazbank and the Black Sea Bank.
“This is only the first round of British economic sanctions against Russia as I fear more irrational behavior is to be expected from Russia,” the Prime Minister said.
The Russian ambassador to London was also summoned to the British Foreign Office on Tuesday.
Canada follows its allies
Struggling for several weeks with a challenge to health restrictions, the Canadian Prime Minister has leaned towards the international.
Like a host of his counterparts, Justin Trudeau announced a “series of economic sanctions” against Russia “until the territorial integrity of Ukraine is restored”.
In particular, Canada will "prohibit Canadians from carrying out any foreign transactions" with the pro-Russian separatist territories of Lugansk and Donetsk, impose sanctions on Russian parliamentarians who voted in favor of the "illegal decision to recognize these territories" and "prohibit Canadians to participate in purchases of Russian debt".
In addition, "additional sanctions" will be imposed on Russian state-backed banks and Canada will "prohibit all financial transactions with them", he added.
No visa in Japan
Tokyo's sanctions include banning visas for people linked to the "two so-called republics", as well as freezing their assets and banning trade with those regions.
They also prohibit the issuance and trading of Russian government bonds in Japan.
Tokyo announced the ban on the issuance of Russian bonds in Japan, the freezing of the assets of several Russian personalities as well as the restriction of travel to Japan.
“Going forward, if the situation worsens, we will work with the G7 and other international communities to take further action quickly,” Prime Minister Fumio Kishida said.
Australia targets 'thugs'
Australian Prime Minister Scott Morrison has targeted members of the Russian Security Council, accusing them of "behaving like thugs".
Eight of its members face travel bans and financial penalties.
Our file on Ukraine
The mainland island has also decided to extend the sanctions imposed on Crimea to the territories of Donesk and Luhansk.
"Australia has always stood up to aggressors and we will stand up to Russia," the Australian leader said.
World
Ukraine-Russia conflict: The United States cuts Russia off from Western funding
World
Ukraine - Russia conflict: Faced with Vladimir Putin's announcements, the West hits Moscow on the wallet
Ukraine
Donbass
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Vladimir Poutine
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