Sanctions on Russia: A crippling economy for years to come

Russia’s invasion of Ukraine has triggered a massive outcry across the world.  As a result, many countries have introduced punitive sanctions against Russia to stop the war.

German Chancellor Olaf Scholz made it clear that more sanctions could follow.

The EU, US, UK, and Canada quickly introduced sanctions against Russia:

  • Exclusion from Swift payment system
  • Restriction on Russian banks
  • Asset freezes travel bans
  • Access to high-tech products, such as computer chips, blocked