West bombards Russia with series of sanctions
Both private and public sectors in western countries have joined forces to slap Russia with a variety of sanctions in a bid to pressure Moscow into halting its invasion of Ukraine.
Here is a brief breakdown of the sanctions:
Financial
Russia has been cut off from the key Swift international financial transaction system, which links more than 11,000 financial institutions in over 200 countries. The measure has left Russia grappling with a heavily weakened ruble, high inflation and higher expenses to do with business deals.
Moreover, Apple Pay and Google Pay e-wallet systems cannot be used in that country because the two are based in the US and Russian banks have been blocked from using their services.
Credit cards
Mastercard has banned Russian banks from its network and has also donated US$2 million (THB65.2 million) for humanitarian operations in Ukraine. Visa has not yet formally announced a boycott but it has said it would comply later with sanctions against Russia.
Energy
Canada has announced it would no longer buy oil from Russia.
TotalEnergies, whose head office is in France, said it would not invest in new projects in Russia.
Shell, whose headquarters is in the UK, announced it would withdraw from a joint venture with Russia’s Gazprom.
Aviation
Almost 40 countries have decided to shut their airspace to Russian airlines.
The European Union has banned Russian airlines from buying more aircraft made in the EU. Existing fleets will also be banned from receiving maintenance.
International shipping
Giant Danish shipping company Maersk said it would halt services for “unnecessary goods” for Russia.
The UK has already banned Russian ships from entering its waters.
Sports
A number of international sports associations have banned Russia from participating in various events, including football matches. Both Russia and Belarus, which joined Moscow in its invasion of Ukraine, have been banned by FIFA. The UEFA has also banned football teams from the two countries from competing in any European event.
Additionally, Russia cannot join any competition to do with ice hockey, President Vladimir Putin’s favourite sport.
On top of this, the International Volleyball Federation has removed Russia as the host of its World Cup event in August.
Other sports federations have also been outlawed. Russian sports teams are not allowed to participate in international events such as athletics, badminton, boat racing or skiing.
The International Olympic Committee has called on sports federations across the globe to join in the sanctions against Russia.
Russian teams can however continue competing in ATP and WTA tours but their national flag cannot be displayed. They can also participate in Grand Slam events but they cannot compete in the Davis Cup or Billie Jean King Cup.
Russian swimmers can still participate in international swimming events but they must contest under the FINA banner, which is the international federation for administering international competitions in water sports.
Entertainment
Major Hollywood production companies such as Disney, Warner Bros and Sony Pictures have indefinitely postponed screening of new movies in Russia until the war comes to an end. For example, unlucky Russians will not get to see Warner Bros’ Batman, which is set for screening in several other countries on Friday.
The Cannes Film Festival has meanwhile announced it will not allow Russian movies to participate in the event. Several actors and actresses have cancelled their shows in Russia.
Netflix has also banned Russia’s national TV from using its digital network.
Pornography
Russian porn stars are also feeling the heat of sanctions. OnlyFans has banned creators from Russia and Belarus from using its adult content platform, meaning porn stars from the two countries will no longer enjoy lucrative income from the network.
IT and gadgets
Apple has stopped exporting its IT gadgets to Russia. Its Apple Stores there have shut down operations and the App Store has banned the download of RT News and Sputnik News content outside Russia.
Facebook has also joined in, restricting both news organisations from being accessed outside Russia.
Google is using the same strategy with its YouTube video platform.
Liquor
Russian liquor makers are also feeling the pinch. Governors of several US states have announced a ban on Russian Vodka sales. For brands from other countries, it’s business as usual. In their ban, officials reasoned that Vodka is culturally linked to Russia.
