So many sanctions on Russia. How much impact do they really have?
10 months ago

So many sanctions on Russia. How much impact do they really have?

Associated Press  

WASHINGTON — So many sanctions. Many of the new sanctions target Russian firms that contribute to the Kremlin’s war effort — everything from drone and industrial chemical manufacturers to machine tool importers. The Group of Seven allies in December 2022 imposed a $60 per barrel price cap on Russian oil, hoping to limit Russia’s revenues from fossil fuels. Treasury Deputy Secretary Wally Adeyemo says the U.S. and its allies will not lower the price cap — “rather what we’ll be doing is taking actions that will increase the cost” of Russia’s production of oil. Eswar Prasad, a Cornell economist, says the latest sanctions are “likely to be of limited potency in stifling Russia’s economy or its war effort.” He said the “escape valve” provided by China, Russia’s ability to maneuver around many of the sanctions and the impasse in Congress over new military aid for Ukraine “have substantially eroded the symbolic and substantive power of such sanctions.” The West still has other options to consider in further punishing Russia.

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History of this topic

UK announces fresh sanctions on Russian energy
5 days, 19 hours ago

UK announces fresh sanctions on Russian energy

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK has announced a fresh wave of sanctions on …

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet
1 week ago

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet

Associated Press  

BRUSSELS — The European Union on Monday imposed fresh sanctions on dozens of officials linked to Russia’s war on Ukraine, including two top North Korean defense officials, a military unit blamed for an attack on a Kyiv children’s hospital and the heads of companies in the energy sector. Russia’s vast shadow fleet of ships that Moscow is exploiting to skirt …

EU targets Russia’s ghost fleet shipping oil in a new round of sanctions
Trending News
1 week, 5 days ago

EU targets Russia’s ghost fleet shipping oil in a new round of sanctions

Associated Press  

BRUSSELS — European Union envoys have agreed a new raft of sanctions against Russia over its war on Ukraine, targeting in particular a vast shadow fleet of ships that Moscow is exploiting to skirt restrictions on transporting oil and fuel, the EU’s Hungarian presidency said on Wednesday. The sanctions are aimed at about 50 of what are routinely decrepit ships …

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump
1 week, 5 days ago

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump

Deccan Chronicle  

The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump returns to the White House.Details of the possible new measures were still being worked out, but President Joe Biden’s team was considering restrictions that might target some Russian oil exports, according to …

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war
1 month ago

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war

Associated Press  

WASHINGTON — Russia’s third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday — in a move intended to curtail Russia’s ability to evade the thousands of sanctions imposed on the nation since the start of Russia’s invasion of Ukraine in February 2022. Treasury Secretary Janet Yellen said the sanctions targeting Russia’s largest remaining …

'Gloomy' Russian oligarchs think country is in trouble even with Trump win
1 month, 1 week ago

'Gloomy' Russian oligarchs think country is in trouble even with Trump win

Raw Story  

The Russian government has long held that Donald Trump is to their benefit, as it went so far as to interfere on his behalf in the 2016 election, and then enjoyed years of relative friendliness as Vladimir Putin and Trump were together on the world stage. According to Bloomberg News, the Russian billionaires colloquially known as "oligarchs" do not expect …

US sanctions 398 firms in more than a dozen countries, accusing them of helping Russia's war effort
1 month, 3 weeks ago

US sanctions 398 firms in more than a dozen countries, accusing them of helping Russia's war effort

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The U.S. on Wednesday imposed …

52 UK-linked companies probed for breaching Russia oil sanctions
2 months, 1 week ago

52 UK-linked companies probed for breaching Russia oil sanctions

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Treasury has investigated more …

Russia's adaptability to US sanctions stymied their effectiveness, economists say
2 months, 4 weeks ago

Russia's adaptability to US sanctions stymied their effectiveness, economists say

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

U.K. sanctions ten ships from Russia’s ‘shadow fleet’
3 months, 1 week ago

U.K. sanctions ten ships from Russia’s ‘shadow fleet’

The Hindu  

The U.K. government, on Wednesday, announced sanctions on a “shadow fleet” of ten Russian oil tankers that it has alleged were circumventing Western oil sanctions. The European Union and Group of Seven countries, including the U.K., are among those who have participated in U.S.-led sanctions on Russian oil, with petroleum being a critical source of funding for Russia’s war with …

Sanctions on Russia-related trade unwarranted, high- and heavy-handed: China Daily editorial
3 months, 4 weeks ago

Sanctions on Russia-related trade unwarranted, high- and heavy-handed: China Daily editorial

China Daily  

It is only natural that those countries whose targeted entities have been conducting normal business with Russia according to international law should vent their spleen at the US' long-arm jurisdiction, as it impedes normal international economic and trade exchanges, and harms the stability of the global industry and supply chains. The move bars the sanctioned entities that are mainly supplying …

US sanctions hundreds of firms accused of supplying Russia’s war machine
4 months ago

US sanctions hundreds of firms accused of supplying Russia’s war machine

Associated Press  

WASHINGTON — The U.S. imposed sweeping sanctions Friday on hundreds of firms in Russia and across Europe, Asia and the Middle East, accusing them of providing products and services that enable Russia’s war effort and aiding its ability to evade sanctions. Friday’s action is the latest in a series of thousands of U.S. sanctions that have been imposed on Russian …

Kremlin warns US after strike on Crimea kills 4
5 months, 4 weeks ago

Kremlin warns US after strike on Crimea kills 4

China Daily  

The Kremlin has blamed the United States for an attack on Crimea with a US-supplied missile loaded with a cluster warhead that killed at least four people and injured 151, warning that retaliation would follow. Russia's special military operation in Ukraine has deepened a crisis in relations between Russia and the West, and Russian officials said the conflict is entering …

US widens sanctions on Russia to discourage countries such as China from doing business with Moscow
6 months, 1 week ago

US widens sanctions on Russia to discourage countries such as China from doing business with Moscow

Associated Press  

The United States widened its sanctions against Russia Wednesday as G7 leaders prepared to gather in Italy for a summit where the top priorities will be boosting support for Ukraine and grinding down Russia’s war machine. Wednesday’s package targeted Chinese companies which help Russia pursue its war in Ukraine and raised the stakes for foreign financial institutions which work with …

US widens sanctions on Russia to discourage countries such as China from doing business with Moscow
6 months, 1 week ago

US widens sanctions on Russia to discourage countries such as China from doing business with Moscow

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Wednesday's package targeted Chinese companies …

US sanctions hundreds of individuals, firms over Russia’s war in Ukraine
7 months, 3 weeks ago

US sanctions hundreds of individuals, firms over Russia’s war in Ukraine

Al Jazeera  

The United States has imposed new sanctions on hundreds of individuals and firms linked to Russia’s war in Ukraine, accusing Moscow of illegally using chemical weapons against Ukrainian forces. US officials on Wednesday announced measures targeting more than 280 entities in their latest effort to paralyse Russia’s military and industrial capabilities, including 20 firms based in China and Hong Kong. …

New Russia sanctions target weapons development and countries assisting in sanctions evasion
7 months, 3 weeks ago

New Russia sanctions target weapons development and countries assisting in sanctions evasion

Live Mint  

WASHINGTON — The U.S. on Wednesday imposed new sanctions on hundreds of firms and people tied to Russia's weapons development program, more than a dozen Chinese firms accused of helping Russia find workarounds to sanctions and individuals tied to the death of Russian dissident Alexey Navalny. The sanctions imposed by the Treasury and State departments target Russia’s military-industrial base, chemical …

As Putin eyes sure reelection, Russia’s economy defies sanctions, critics
9 months, 1 week ago

As Putin eyes sure reelection, Russia’s economy defies sanctions, critics

Al Jazeera  

Russian president’s all but guaranteed fifth term in power comes as economy has outperformed expectations. But I doubt that drinking Dobry Cola instead of Coca-Cola will change the election.” Owing to high oil prices and elevated military spending, Russia has managed to mitigate much of the impact of sanctions. It’s true that oil and gas exports have fallen because of …

How sanctions on Russia will change the diamond trade
9 months, 2 weeks ago

How sanctions on Russia will change the diamond trade

Live Mint  

Russia's diamond industry is under pressure. This is the first phase of a comprehensive sanctions scheme: in March the G7 and EU will ban Russian gems that have been cut and polished abroad. America and Britain banned imports of Russian rough diamonds shortly after the war began, but more comprehensive sanctions were held up by negotiations: Western countries struggled to …

U.S. Piles New Sanctions On Russia For Ukraine War's 2nd Anniversary, Navalny's Death
10 months ago

U.S. Piles New Sanctions On Russia For Ukraine War's 2nd Anniversary, Navalny's Death

Huff Post  

LOADING ERROR LOADING WASHINGTON — The United States and the European Union are piling new sanctions on Russia on the eve of the second anniversary of its invasion of Ukraine and in retaliation for the death of noted Kremlin critic Alexei Navalny last week in an Arctic penal colony. The U.S. Treasury Department plans Friday to impose more than 500 …

US and EU pile new sanctions on Russia for the Ukraine war’s 2nd anniversary and Navalny’s death
10 months ago

US and EU pile new sanctions on Russia for the Ukraine war’s 2nd anniversary and Navalny’s death

Associated Press  

WASHINGTON — The United States and European Union on Friday heaped hundreds of new sanctions on Russia in connection with the second anniversary of its invasion of Ukraine and in retaliation for the death of noted Kremlin critic Alexei Navalny last week in an Arctic penal colony. The U.S. government imposed roughly 600 new sanctions on Russia and its war …

US to impose sanctions on over 500 targets in Russia amid war with Ukraine
10 months ago

US to impose sanctions on over 500 targets in Russia amid war with Ukraine

Live Mint  

The United States is planning to impose sanctions on more than 500 targets involved in Russia's war in Ukraine. The package will be the latest of thousands of sanctions targeting Moscow announced by the United States and its allies following Russia's 2022 invasion of Ukraine, which has killed tens of thousands and reduced cities to rubble. The Us and other …

US sanctions 500 Russia-linked targets ahead of Ukraine war anniversary
10 months ago

US sanctions 500 Russia-linked targets ahead of Ukraine war anniversary

Al Jazeera  

US reiterates support for Ukraine with largest package of economic restrictions as Republicans block military aid. Washington has also imposed new export restrictions on nearly 100 entities for providing support to Russia and take action to further reduce Russia’s energy revenues, US President Joe Biden said on Friday. The new economic restrictions come after the White House said this week …

Biden announces over 500 new sanctions for Russia's war in Ukraine and Navalny death
10 months ago

Biden announces over 500 new sanctions for Russia's war in Ukraine and Navalny death

NPR  

Biden announces over 500 new sanctions for Russia's war in Ukraine and Navalny death Enlarge this image toggle caption Sergey Guneev, Sputnik, Kremlin Pool Photo/AP Sergey Guneev, Sputnik, Kremlin Pool Photo/AP The United States is imposing sanctions on more than 500 targets connected to Russia's war machine and the death of Russian opposition leader Alexei Navalny, the government said Friday. …

U.S., EU add sanctions on Russia for Ukraine war, Navalny’s death
10 months ago

U.S., EU add sanctions on Russia for Ukraine war, Navalny’s death

LA Times  

The United States and the European Union are piling new sanctions on Russia on the eve of the second anniversary of its invasion of Ukraine and in retaliation for the death of noted Kremlin critic Alexei Navalny last week in an Arctic penal colony. The 27-nation bloc also said that it was targeting scores of Russian officials, including “members of …

US to impose sanctions on 500 targets in Russia to mark Ukraine war anniversary
10 months ago

US to impose sanctions on 500 targets in Russia to mark Ukraine war anniversary

India Today  

The United States will impose sanctions on over 500 targets on Friday in action marking the second anniversary of Russia's invasion of Ukraine, Deputy US Treasury Secretary Wally Adeyemo told Reuters in an interview on Thursday. The package will be the latest of thousands of sanctions targeting Moscow announced by the United States and its allies following Russia's 2022 invasion …

The biggest ever sanctions have failed to halt Russia’s war machine
10 months ago

The biggest ever sanctions have failed to halt Russia’s war machine

Live Mint  

Two years after Russia’s invasion of Ukraine, Western sanctions have failed in their most important task—stopping the Kremlin’s war machine. Western officials and experts say the financial, economic, military and energy sanctions imposed on Russia since February 2022 have damaged Russia’s economy and arms-production capacity, and will create serious problems for the Kremlin in the coming years. Western officials on …

US vows ‘major sanctions’ on Russia over Alexei Navalny's death
10 months ago

US vows ‘major sanctions’ on Russia over Alexei Navalny's death

Hindustan Times  

The White House says it is preparing additional “major sanctions” on Russia in response to opposition leader Alexei Navalny's death in an Arctic penal colony. National Security Adviser Jake Sullivan said the sanctions, on the eve of the two-year anniversary of Russia’s invasion of Ukraine, “will be a substantial package covering a range of different elements of the Russian defense …

US sanctions UAE shipping firm for transporting Russian crude oil above USD60 per barrel price cap
11 months ago

US sanctions UAE shipping firm for transporting Russian crude oil above USD60 per barrel price cap

India TV News  

Washington: The US on Thursday hit a United Arab Emirates shipping firm with sanctions after it transported Russian crude oil above the $60 per barrel price cap. This is the Treasury's first oil price cap enforcement action of 2024 — imposed on Hennesea Holdings Limited and its 18 vessels that the US Treasury now considers blocked property. Price cap The …

U.S. imposes more Russian oil price cap sanctions and issues new compliance rules for shippers
1 year ago

U.S. imposes more Russian oil price cap sanctions and issues new compliance rules for shippers

Associated Press  

WASHINGTON — The U.S. imposed new sanctions on alleged violators of a $60 per barrel price cap on Russian oil and tightened compliance rules for insurance firms and shippers, Wednesday. Also sanctioned were Hong Kong-based Covart Energy, which has increased its share of the trade of Russian oil since the price cap policy was implemented, and Hong Kong-based Bellatrix Energy. …

Sanctions on Russian oil have failed. Were they ever meant to succeed?
1 year ago

Sanctions on Russian oil have failed. Were they ever meant to succeed?

Al Jazeera  

Last December, the European Union banned imports of Russian crude oil in a bid to starve the Russian war machine into submission over its invasion of Ukraine. Sanction-proof tankers Anticipating this, the EU, along with the G7, last year placed a $60-per-barrel price cap on Russian oil sold to third parties. “It’s basically a sanction-proof tanker.” Western protection-and-indemnity-insured tankers dropped …

The European Union targets Russia’s diamond industry in its latest round of Ukraine war sanctions
1 year ago

The European Union targets Russia’s diamond industry in its latest round of Ukraine war sanctions

Associated Press  

BRUSSELS — The European Union said Monday that it has imposed fresh sanctions on Russia over its war against Ukraine, targeting the lucrative diamonds industry, more than 140 officials and organizations, and closing loopholes that Moscow has used to bypass previous punitive measures. It’s the 12th round of sanctions and restrictions that the EU has slapped on Russia since President …

Opinion: Amid the Ukraine war, are sanctions against Russia working?
1 year ago

Opinion: Amid the Ukraine war, are sanctions against Russia working?

LA Times  

In February 2022, Russian troops mounted an invasion of Ukraine. Export controls limited the Russian military’s access to goods from sanctioning nations and attempted to reduce the shipment into Russia of certain goods such as semiconductors, which could be used in military equipment. The sanctions against Russia were merely some of the best tools available — perhaps second only to …

US announces hundreds of new sanctions in push to isolate Russia
1 year ago

US announces hundreds of new sanctions in push to isolate Russia

Al Jazeera  

New sanctions target entities and individuals around the world in bid to isolate Russia as its war on Ukraine continues. The United States has announced hundreds of new sanctions targeting entities and individuals across the globe, seeking to further isolate Russia as its war on Ukraine grinds on. “The Kremlin has steadily turned Russia into a wartime economy, but Putin’s …

US imposes new sanctions over Russian oil price cap violations, Kremlin influence in the Balkans
1 year, 1 month ago

US imposes new sanctions over Russian oil price cap violations, Kremlin influence in the Balkans

Associated Press  

WASHINGTON — The U.S. Treasury on Thursday imposed a new round of sanctions on firms and ships that used American service providers to carry Russian crude oil in violation of the multinational price cap — and imposed another set of sanctions on a group of Balkan people and firms tied to Kremlin influence in the region. Treasury’s Office of Foreign …

How Russia games oil sanctions for big profits
1 year, 1 month ago

How Russia games oil sanctions for big profits

Live Mint  

The latest evidence: Oil and gas tax revenue to the Russian budget in October more than doubled from September and rose by more than a quarter from the same month last year, according to data released Friday. The price cap, imposed last December, was supposed to achieve twin goals: ensure the flow of Russia’s crude on world markets, thus keeping …

New US sanctions over Russia-Ukraine war target Lancet drones
1 year, 1 month ago

New US sanctions over Russia-Ukraine war target Lancet drones

Al Jazeera  

Sweeping new measures target entities including in China, Turkey and UAE in bid to cut off Russia’s supply chain. The new measures target critical supply chains that have otherwise allowed Russia to circumvent international sanctions and export controls by exploiting “otherwise legitimate economic relationships” with China, Turkey, and the UAE. The new Treasury sanctions also target Russia’s domestic industrial base, …

The US sanctions more foreign firms in a bid to choke off Russia’s supplies for its war in Ukraine
1 year, 1 month ago

The US sanctions more foreign firms in a bid to choke off Russia’s supplies for its war in Ukraine

Associated Press  

WASHINGTON — The United States on Thursday imposed a new round of sanctions on 130 firms and people from Turkey, China and the United Arab Emirates in an effort to choke off Russia’s access to tools and equipment that support its invasion of Ukraine. The sanctions imposed by the Treasury Department’s Office of Foreign Assets Control target third-party firms and …

U.S. sanctions more foreign firms in bid to choke off Russia’s supplies in Ukraine
1 year, 1 month ago

U.S. sanctions more foreign firms in bid to choke off Russia’s supplies in Ukraine

LA Times  

The United States on Thursday imposed a new round of sanctions on 130 firms and people from Turkey, China and the United Arab Emirates in an effort to choke off Russia’s access to tools and equipment that support its invasion of Ukraine. The sanctions imposed by the Treasury Department’s Office of Foreign Assets Control target third-party firms and people alleged …

Kremlin says Russian economy ready to handle more sanctions
1 year, 2 months ago

Kremlin says Russian economy ready to handle more sanctions

Al Jazeera  

Russia’s economy has adapted well to Western sanctions and Moscow does not fear the prospect of more such measures, the Kremlin says. On February 25, 2022, a day after Russia undertook a full-scale invasion of Ukraine, the European Union introduced wide-ranging sanctions intended to send a clear signal to Moscow that there would be severe consequences for the war. “Russia …

A price cap on Russian oil aims to starve Putin of cash. But it’s largely been untested. Until now
1 year, 2 months ago

A price cap on Russian oil aims to starve Putin of cash. But it’s largely been untested. Until now

Associated Press  

FRANKFURT, Germany — For months after Ukraine’s Western allies limited sales of Russian oil to $60 per barrel, the price cap was still largely symbolic. Russia’s benchmark oil — often exported with Western ships required to obey sanctions — has traded above the price cap since mid-July, pumping hundreds of millions of dollars a day into the Kremlin’s war chest. …

The US government sanctions two shipping companies for violating the Russian oil price cap
1 year, 2 months ago

The US government sanctions two shipping companies for violating the Russian oil price cap

Associated Press  

WASHINGTON — The Treasury Department said Thursday that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap. As a result of the sanctions, the Biden administration is blocking the companies’ ability to conduct business or access any property or financial interests in the U.S. A senior treasury …

New US sanctions target workarounds that let Russia get Western tech for war
1 year, 3 months ago

New US sanctions target workarounds that let Russia get Western tech for war

Associated Press  

The United States said Thursday that it was sanctioning more than 150 businesses and people from Russia to Turkey, the United Arab Emirates and Georgia to try to crack down on evasion and deny the Kremlin access to technology, money and financial channels that fuel President Vladimir Putin’s war in Ukraine. The U.S. is sanctioning a newly established UAE company, …

Russia earns less from oil and spends more on war. So far, sanctions are working like a slow poison
1 year, 3 months ago

Russia earns less from oil and spends more on war. So far, sanctions are working like a slow poison

Associated Press  

The Russian ruble’s wobble in value has exposed a crack in President Vladimir Putin’s fortress economy, a vulnerability quickly plastered over by the Kremlin’s economic team in a move that allowed the currency to regain its footing, at least for now. Longer term, however, Russia’s economy is facing a “slow burn” under pressure from sanctions and Putin’s war spending, said …

Russia’s ruble has tumbled. What does it mean for the wartime economy?
1 year, 4 months ago

Russia’s ruble has tumbled. What does it mean for the wartime economy?

Associated Press  

Russia’s ruble has fallen a long way in recent months, and the country’s central bank has stepped in to try to halt the slide. Previously, Russia saw a large trade surplus — which typically supports a country’s currency — because of high oil prices and plummeting imports after invading Ukraine. But oil prices have dipped this year, and it’s more …

US says price caps on Russia’s oil are cutting revenue nearly in half and weakening its economy
1 year, 6 months ago

US says price caps on Russia’s oil are cutting revenue nearly in half and weakening its economy

Associated Press  

WASHINGTON — A top Treasury Department official said Thursday that the cap on the price of Russia’s oil is severely curtailing its greatest source of revenue as it wages war in Ukraine. When the United States and other economic powers in the Group of Seven, along with the European Union and Australia, last year announced an ambitious plan to cap …

Sanctions on Russia may not be working, we now know why
1 year, 6 months ago

Sanctions on Russia may not be working, we now know why

Al Jazeera  

European businesses and third countries are actively circumventing sanctions, providing Russia with sanctioned goods and thus helping its war effort. On February 25, 2022, a day after Russia undertook a full-scale invasion of Ukraine, the European Union introduced unprecedented sanctions against the aggressor. Its analysis of customs data from 12 EU countries, Norway, the UK, the US and Japan shows …

Zelensky is right – the sanctions aren’t working
1 year, 7 months ago

Zelensky is right – the sanctions aren’t working

The Independent  

If nothing else, Volodymyr Zelensky’s presence at the G7 summit sends a powerful message, not least to the Kremlin, that he retains the support of the West’s largest economies. Among other ringing endorsements of the Ukrainian effort to liberate itself from colonisation, the G7 members declared that they were renewing their commitment “to provide the financial, humanitarian, military and diplomatic …

G7 tightens sanctions against Russia: Will they be effective?
1 year, 7 months ago

G7 tightens sanctions against Russia: Will they be effective?

Firstpost  

The US and other Group of Seven nations rolled out a new wave of global sanctions against Russia over its invasion of Ukraine as they met Friday during a summit in Japan. The purpose is to “fully map holdings of Russia’s sovereign assets that will remain immobilised in G7 jurisdictions until Russia pays for the damage it has caused to …

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