Ukraine's Western allies impose new sanctions against Russia

The first anniversary of the Russian invasion of Ukraine has been commemorated among the country's allies Slavic with solemn tributes to the victims of the Kremlin aggression, but also with the firm commitment to maintain the economic pressure on Moscow until its war machine stops. Both the United States, Great Britain and the Group of Seven (G7), to which the Union belongs Union , have announced new packages of coordinated sanctions against Russia, which also include third-country entities collaborating with the war efforts of Vladimir Putin. Countries to which the G7 have pledged to impose “severe costs” if they continue to help Moscow in the future. to circumvent the sanctions. The new punitive measures mainly affect the military, financial and industrial sectors.

This new round of sanctions comes in full confirmation of the limited scope they have had up to now as a deterrent. Neither the Russian economy has lost half of its wealth, as the American Joe Biden predicted a year ago, nor has it come down as a prediction & oacute; the French Finance Minister, Bruno Le Maire. Among other things, because dozens of countries in the global south, from China to IndiaThrough South Africa, they have not supported the Western campaign and have increased their purchases of Russian hydrocarbons, fertilizers, wheat or precious metals, often at discounted prices. This has caused the Russian economy to contract by only 2.3% in 2022, according to data from the Kremlin, while this year the IMF predicts that it will grow more than 2%. 0.3% of its GDP. 

Damaging the Russian economy

The West is not throwing in the towel, in any case. The White House punished Friday to 200 entities and individuals in Russia, as well as as well as in several countries in Europe, Asia and the Middle East with the intention of “depleting the Russian economy a little more and reducing its ability to wage war on Ukraine.” The list includes a dozen Russian banks. And, in parallel, Washington has prohibited 90 companies from various countries, including China, from access to its technology to prevent it from being potentially used by the Russian army. . This technology includes various components for the manufacture of precious semiconductors. 

The US announcement has come almost parallel to the one in London, which has sanctioned top executives of the Russian nuclear company Rosatom, as well as the United States. such as two Defense conglomerates and four banks. The European Union and Japan are also finalizing new sanctions packages, yet to be determined.

Reconstruction of Ukraine

Under the Japanese presidency, the Japanese ceremonies were held. also a new rG7 leaders meeting , in which the Ukrainian president Volodimir Zelensky also took part. All of them promised to “maintain, implement and expand the measures imposed so far,” according to their statement. The main countries of the rich world announced that they will take “actions against third-country actors who are materially supporting the Russian war in Ukraine.” During the meeting they also agreed to establish a coordinated mechanism to pursue the evasion of sanctions and, in parallel, to keep “immobilized” The assets that Russia has invested in sovereign debt of the G7 countries until the end of the conflict. The measure seeks, as they explained, to guarantee that Russia ends up paying for the reconstruction of Ukraine.