{"id":7082,"date":"2023-05-20T17:39:37","date_gmt":"2023-05-20T16:39:37","guid":{"rendered":"https:\/\/londonpost.news\/?p=7082"},"modified":"2023-05-20T17:47:28","modified_gmt":"2023-05-20T16:47:28","slug":"sanctions-against-russia-and-what-the-g7-can-do-to-strengthen-them","status":"publish","type":"post","link":"https:\/\/brusselsindependent.com\/en\/politics\/sanctions-against-russia-and-what-the-g7-can-do-to-strengthen-them\/2023\/05\/20\/admin1\/","title":{"rendered":"Sanctions against Russia and what the G7 can do to strengthen them"},"content":{"rendered":"

HIROSHIMA<\/span>\u00a0(AP)<\/span> –<\/span> The<\/span> seven<\/span> industrialized<\/span> nations<\/span> are<\/span> expected<\/span> to<\/span> announce<\/span> a<\/span> new<\/span> set<\/span> of<\/span> sanctions<\/span> against<\/span> Russia<\/span> during<\/span> their<\/span> summit<\/span> in<\/span> Hiroshima,<\/span> Japan,<\/span> to<\/span> further<\/span> impede<\/span> the<\/span> war<\/span> effort<\/span> in<\/span> Ukraine.<\/span>
\n<\/span>
\n<\/span>Ukrainian<\/span> President<\/span> Volodymyr<\/span> Zelensky’s<\/span> visit<\/span> to<\/span> Japan<\/span> will<\/span> help<\/span> highlight<\/span> the<\/span> need<\/span> for<\/span> better<\/span> implementation<\/span> of<\/span> measures<\/span> to<\/span> suppress<\/span> Moscow’s<\/span> war<\/span> machine.<\/span>
\n<\/span>
\n<\/span>Russia<\/span> is<\/span> currently<\/span> the<\/span> most<\/span> sanctioned<\/span> country<\/span> in<\/span> the<\/span> world,<\/span> but<\/span> its<\/span> effectiveness<\/span> is<\/span> questionable.<\/span> EU<\/span> Council<\/span> President<\/span> Charles<\/span> Michel<\/span> said<\/span> the<\/span> plan<\/span> was<\/span> to<\/span> close<\/span> loopholes<\/span> and<\/span> ensure<\/span> that<\/span> the<\/span> sanctions<\/span> would<\/span> hurt<\/span> Russia,<\/span> not<\/span> enforcers.<\/span>
\n<\/span>
\n<\/span>Let’s<\/span> see<\/span> what<\/span> happens<\/span> next,<\/span> the<\/span> sanctions<\/span> so<\/span> far,<\/span> and<\/span> the<\/span> impact<\/span> it<\/span> has<\/span> had<\/span> on<\/span> Russia’s<\/span> economy<\/span> and<\/span> military<\/span> efforts.<\/span>\u00a0
\n<\/span>
\n<\/span>Michel<\/span> said<\/span> the<\/span> EU’s<\/span> 27<\/span> member<\/span> states<\/span> are<\/span> focused<\/span> on<\/span> “closing<\/span> loopholes<\/span> and<\/span> continuing<\/span> to<\/span> cut<\/span> Russia<\/span> off<\/span> from<\/span> vital<\/span> sources<\/span> of<\/span> supply”.<\/span> He<\/span> is<\/span> working<\/span> on<\/span> a<\/span> plan<\/span> to<\/span> limit<\/span> the<\/span> trade<\/span> in<\/span> Russian<\/span> diamonds<\/span> and<\/span> track<\/span> trade<\/span> to<\/span> prevent<\/span> Russia<\/span> from<\/span> circumventing<\/span> regulations.<\/span> Russia<\/span> exports<\/span> about<\/span> $4<\/span> billion<\/span> worth<\/span> of<\/span> rough<\/span> diamonds<\/span> each<\/span> year,<\/span> about<\/span> a<\/span> third<\/span> of<\/span> the<\/span> world’s<\/span> total,<\/span> most<\/span> of<\/span> which<\/span> is<\/span> cut<\/span> and<\/span> polished<\/span> in<\/span> India.<\/span> The<\/span> new<\/span> sanctions<\/span> follow<\/span> an<\/span> online<\/span> summit<\/span> in<\/span> February,<\/span> where<\/span> G7<\/span> leaders<\/span> pledged<\/span> to<\/span> strengthen<\/span> enforcement<\/span> through<\/span> a<\/span> sanctions<\/span> monitoring<\/span> mechanism<\/span> to<\/span> coordinate<\/span> enforcement<\/span> to<\/span> improve<\/span> information<\/span> sharing<\/span> and<\/span> enforcement.<\/span> It<\/span> promised<\/span> to<\/span> impose<\/span> “significant<\/span> costs”<\/span> on<\/span> other<\/span> nations<\/span> that<\/span> circumvent<\/span> or<\/span> undermine<\/span> it.<\/span> “We<\/span> will<\/span> deplete<\/span> Russia<\/span> of<\/span> the<\/span> G7<\/span> technology,<\/span> industrial<\/span> equipment<\/span> and<\/span> services<\/span> that<\/span> underpin<\/span> Russia’s<\/span> war<\/span> machine,”<\/span> European<\/span> Commission<\/span> President<\/span> Ursula<\/span> von<\/span> der<\/span> Leyen<\/span> said.<\/span><\/p>\n

EU<\/span> officials<\/span> said<\/span> on<\/span> Saturday<\/span> that<\/span> some<\/span> Chinese<\/span> companies<\/span> believed<\/span> to<\/span> supply<\/span> Russia<\/span> with<\/span> components<\/span> that<\/span> could<\/span> be<\/span> used<\/span> in<\/span> military<\/span> equipment<\/span> were<\/span> on<\/span> a<\/span> list<\/span> of<\/span> companies<\/span> that<\/span> could<\/span> be<\/span> sanctioned.<\/span> Unlike<\/span> other<\/span> countries,<\/span> China<\/span> has<\/span> yet<\/span> to<\/span> announce<\/span> trade<\/span> restrictions<\/span> with<\/span> Russia,<\/span> but<\/span> it<\/span> has<\/span> also<\/span> refrained<\/span> from<\/span> supplying<\/span> it<\/span> with<\/span> arms<\/span> and<\/span> other<\/span> materials.<\/span>
\n<\/span>
\n<\/span>The<\/span> list<\/span> is<\/span> long<\/span> and<\/span> even<\/span> longer.<\/span>
\n<\/span>
\n<\/span>On<\/span> Friday,<\/span> Britain<\/span> announced<\/span> new<\/span> sanctions<\/span> against<\/span> Russia’s<\/span> seizure<\/span> of<\/span> Ukrainian<\/span> grain,<\/span> advanced<\/span> military<\/span> technology<\/span> and<\/span> Russia’s<\/span> remaining<\/span> revenue<\/span> streams.<\/span> The<\/span> assets<\/span> of<\/span> 86<\/span> other<\/span> individuals<\/span> and<\/span> entities<\/span> were<\/span> frozen,<\/span> including<\/span> Rosatom-affiliated<\/span> companies<\/span> supporting<\/span> President<\/span> Vladimir<\/span> Putin’s<\/span> war<\/span> effort.<\/span> The<\/span> UK<\/span> Foreign<\/span> Affairs,<\/span> Commonwealth<\/span> and<\/span> Development<\/span> Office<\/span> said<\/span> in<\/span> a<\/span> statement<\/span> that<\/span> Russian<\/span> state<\/span> assets<\/span> would<\/span> be<\/span> frozen<\/span> until<\/span> “they<\/span> agree<\/span> to<\/span> compensate<\/span> for<\/span> the<\/span> damage<\/span> Russia<\/span> has<\/span> caused<\/span> to<\/span> Ukraine”.<\/span>
\n<\/span>
\n<\/span>The<\/span> US<\/span> has<\/span> begun<\/span> targeting<\/span> members<\/span> of<\/span> Putin’s<\/span> inner<\/span> circle,<\/span> their<\/span> families<\/span> and<\/span> banks,<\/span> who<\/span> are<\/span> deemed<\/span> important<\/span> to<\/span> the<\/span> Kremlin<\/span> and<\/span> the<\/span> Russian<\/span> military.<\/span> The<\/span> US<\/span> has<\/span> also<\/span> tried<\/span> to<\/span> limit<\/span> Russia’s<\/span> ability<\/span> to<\/span> raise<\/span> funds<\/span> abroad.<\/span> Sanctions<\/span> are<\/span> imposed<\/span> through<\/span> the<\/span> Department<\/span> of<\/span> the<\/span> Treasury’s<\/span> Office<\/span> of<\/span> Foreign<\/span> Assets<\/span> Control<\/span> against<\/span> persons<\/span> on<\/span> specially<\/span> designated<\/span> national<\/span> and<\/span> prohibited<\/span> entry<\/span> lists.<\/span> The<\/span> list<\/span> has<\/span> expanded<\/span> to<\/span> include<\/span> individuals<\/span> and<\/span> companies<\/span> from<\/span> around<\/span> the<\/span> world<\/span> who<\/span> have<\/span> been<\/span> implicated<\/span> in<\/span> supporting<\/span> the<\/span> Russian<\/span> military.<\/span> The<\/span> organization<\/span> cooperates<\/span> with<\/span> the<\/span> Russian<\/span> Elites,<\/span> Deputies<\/span> and<\/span> Oligarchs<\/span> Committee.<\/span> The<\/span> unit<\/span> is<\/span> an<\/span> interagency<\/span> organization<\/span> that<\/span> works<\/span> with<\/span> other<\/span> countries<\/span> to<\/span> investigate<\/span> and<\/span> prosecute<\/span> oligarchs<\/span> and<\/span> others<\/span> associated<\/span> with<\/span> Putin.<\/span>
\n<\/span>
\n<\/span>On<\/span> Friday,<\/span> the<\/span> State<\/span> Department<\/span> announced<\/span> new<\/span> sanctions<\/span> against<\/span> more<\/span> than<\/span> 200<\/span> companies,<\/span> individuals,<\/span> ships<\/span> and<\/span> aircraft<\/span> targeting<\/span> Russia’s<\/span> energy,<\/span> military,<\/span> technology,<\/span> metals<\/span> and<\/span> mining<\/span> sectors.<\/span> They<\/span> also<\/span> highlighted<\/span> the<\/span> organizations<\/span> and<\/span> individuals<\/span> involved<\/span> in<\/span> the<\/span> illegal<\/span> deportation<\/span> of<\/span> Ukrainian<\/span> children<\/span> and<\/span> the<\/span> confiscation<\/span> of<\/span> Ukrainian<\/span> grain.<\/span>
\n<\/span>
\n<\/span>The<\/span> EU<\/span> imposes<\/span> sanctions<\/span> much<\/span> like<\/span> those<\/span> of<\/span> the<\/span> US,<\/span> UK<\/span> and<\/span> Canada.<\/span> The<\/span> process<\/span> could<\/span> be<\/span> a<\/span> bit<\/span> slower<\/span> as<\/span> all<\/span> 27<\/span> members<\/span> would<\/span> need<\/span> to<\/span> unanimously<\/span> agree,<\/span> the<\/span> people<\/span> said.<\/span> The<\/span> EU<\/span> has<\/span> imposed<\/span> 10<\/span> sanctions<\/span> on<\/span> Russia<\/span> since<\/span> President<\/span> Vladimir<\/span> Putin<\/span> sent<\/span> troops<\/span> to<\/span> Ukraine<\/span> on<\/span> February<\/span> 24.<\/span> Banks,<\/span> businesses<\/span> and<\/span> the<\/span> energy<\/span> sector<\/span> have<\/span> been<\/span> hit.<\/span> Well<\/span> over<\/span> 1,000<\/span> officials<\/span> have<\/span> been<\/span> affected<\/span> by<\/span> asset<\/span> freezes<\/span> and<\/span> travel<\/span> bans.<\/span> Japan<\/span> tightened<\/span> sanctions<\/span> in<\/span> February,<\/span> freezing<\/span> the<\/span> assets<\/span> of<\/span> Russians<\/span> and<\/span> Russian<\/span> companies<\/span> and<\/span> suspending<\/span> some<\/span> visas.<\/span> It<\/span> froze<\/span> the<\/span> assets<\/span> of<\/span> some<\/span> financial<\/span> institutions<\/span> and<\/span> prohibited<\/span> the<\/span> export<\/span> of<\/span> goods<\/span> that<\/span> could<\/span> be<\/span> used<\/span> for<\/span> military<\/span> purposes,<\/span> dual-use<\/span> goods,<\/span> some<\/span> raw<\/span> materials,<\/span> and<\/span> semiconductors.<\/span>
\n<\/span>
\n<\/span>Canada<\/span> has<\/span> imposed<\/span> sanctions<\/span> on<\/span> dozens<\/span> of<\/span> Russians<\/span> and<\/span> Russian<\/span> companies,<\/span> including<\/span> executives<\/span> from<\/span> state-owned<\/span> energy<\/span> company<\/span> Gazprom<\/span> and<\/span> six<\/span> companies<\/span> in<\/span> the<\/span> energy<\/span> sector.<\/span>
\n<\/span>
\n<\/span>G7<\/span> officials<\/span> said<\/span> sanctions<\/span> evasion<\/span> was<\/span> becoming<\/span> more<\/span> common.<\/span> \u201cFrom<\/span> microprocessors<\/span> and<\/span> sensors<\/span> for<\/span> Russian<\/span> cruise<\/span> missiles<\/span> to<\/span> chips<\/span> for<\/span> military<\/span> communications<\/span> equipment,<\/span> high-tech<\/span> exports<\/span> to<\/span> third<\/span> countries<\/span> will<\/span> continue<\/span> to<\/span> flow<\/span> into<\/span> Russia<\/span> and<\/span> end<\/span> up<\/span> in<\/span> weapons<\/span> used<\/span> on<\/span> the<\/span> battlefield<\/span> with<\/span> Ukraine.<\/span> will<\/span> be<\/span> taken.\u201d<\/span> We<\/span> have<\/span> to<\/span> finish<\/span> it,”<\/span> von<\/span> der<\/span> Leyen<\/span> said<\/span> Friday.<\/span>
\n<\/span>
\n<\/span>
\n<\/span>Western<\/span> sanctions<\/span> are<\/span> hurting<\/span> Russia’s<\/span> banks,<\/span> wealthy<\/span> people<\/span> and<\/span> technology<\/span> imports.<\/span> First,<\/span> the<\/span> ruble<\/span> plummeted,<\/span> foreign<\/span> companies<\/span> retreated,<\/span> and<\/span> prices<\/span> rose.<\/span> A<\/span> senior<\/span> Treasury<\/span> official<\/span> said<\/span> US<\/span> sanctions<\/span> and<\/span> export<\/span> controls<\/span> are<\/span> hampering<\/span> Russia’s<\/span> ability<\/span> to<\/span> replace<\/span> more<\/span> than<\/span> 9,000<\/span> pieces<\/span> of<\/span> military<\/span> equipment<\/span> lost<\/span> in<\/span> the<\/span> war.<\/span> But<\/span> the<\/span> economic<\/span> life<\/span> of<\/span> ordinary<\/span> Russians<\/span> has<\/span> changed<\/span> very<\/span> little.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

HIROSHIMA\u00a0(AP) – The seven industrialized nations are expected to announce a new set of sanctions against Russia during their summit in Hiroshima, Japan, to further impede the war effort in Ukraine. Ukrainian President Volodymyr Zelensky’s visit to Japan will help highlight the need for better implementation of measures to suppress Moscow’s war machine. Russia is […]<\/p>\n","protected":false},"author":2,"featured_media":7083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":""},"categories":[280,2400,2480,2482],"tags":[2282,5210,2283,5211,2294,2587,4385,4389,4394,4426,5202,5203,5204,5205,5206,1314,5207,1374,5208,1765,5209],"jetpack_featured_media_url":"https:\/\/brusselsindependent.com\/wp-content\/uploads\/2023\/05\/SS.webp","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/7082"}],"collection":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/comments?post=7082"}],"version-history":[{"count":1,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/7082\/revisions"}],"predecessor-version":[{"id":7084,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/7082\/revisions\/7084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/media\/7083"}],"wp:attachment":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/media?parent=7082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/categories?post=7082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/tags?post=7082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}