Russia-Ukraine Crisis- Recent News

February 23, 2022

On February 23, 2022, Australia became the latest country to announce sanctions against Russia.

Highlights

Prime Minister Scott Morrison unveiled new measures countering “aggression by Russia against Ukraine.”
At the first place, Australia will enact travel bans as well as targeted financial sanctions on eight members of Security Council of the Russian Federation.
It will also impose strong economic sanctions against pro-Moscow regions of Donetsk and Luhansk in eastern Ukraine, which are held by separatist. On February 21, these regions were recognised as independent by Russian President Vladimir Putin.

Target area of the sanctions

Australia’s sanctions target transport, telecommunications, energy, gas & mineral reserves, and oil.

USA’s sanction on Russia

Before Australia, United States imposed a first tranche of sanctions against Russia on February 22, to counter Russia’s invasion of Ukraine. US imposed sanctions against two Russian financial institutions as well as Russian sovereign debt. It also imposed sanctions against Russian elites & their family members.

Why were sanctions put?

USA and Australia put sanctions on Russia, after President Vladimir Putin asked Russia’s defence ministry to deploy forces into two regions Donetsk and Luhansk in eastern Ukraine and recognized them as independent. This move by Russia raised fears of imminent war in Europe. US President Joe Biden stated that, this is the beginning of Russian invasion of Ukraine. USA also promised severe sanctions against Russia if it invaded Ukraine.

USA’s defensive assistance to Ukraine

United States would continue to provide “defensive assistance” to Ukraine. however, it has no intention to fight Russia. He has authorized additional movements of U.S. forces, stationed in Europe, in a bid to strengthen Baltic allies Latvia, Estonia, and Lithuania.

Punishment by western nations to Russia

Apart from Australia and United States; other western nations viz., Canada, European Union, and Britain announced plans to target banks and elites. Germany has halted major gas pipeline project from Russia.

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