Overtakes Iran, Syria and North Korea: Russia becomes world champion of sanctions

Before Iran, Syria and North Korea
World champion Russia rises to sanctions

3/8/2022 5:14 am

No country in the world currently has more sanctions against it than Russia. Vladimir Putin’s government has overtaken Iran, Syria and North Korea since the invasion of Ukraine, according to the sanctions watchdog. A small European country imposes heavy sanctions on Moscow.

With its invasion of Ukraine, Russia has become one of the world’s largest imposing sanctions on itself. About “Castellum.iBloomberg, a global sanctions-monitoring database, writes that the tidal wave of action by the US and EU since February 22 has targeted Russia for 2,778 new sanctions.

This brings the total number of sanctions against Moscow to more than 5,530. Putin said over the weekend that sanctions “are tantamount to declaring war.” In doing so, Russia overtook Iran, which faced 3,616 sanctions in a decade, most of which supported its nuclear program and terrorism. According to “castellum.ai” Syria is third with 2,608 and North Korea 2,077 sanctions. Venezuela (651), Myanmar (510) and Cuba (208) are lagging behind.

“This is a nuclear financial war and the biggest sanctions event in history,” former Presidents Barack Obama and former US Treasury official Peter Piadetsky told the Bloomberg administration during the Donald Trump administration. “Russia has become a major target of global sanctions from one part of the world economy and within two weeks it has become a financial problem.”

Switzerland has imposed more sanctions

Most of the sanctions imposed on Russia since February 22 have been aimed at individuals (2427), of which 343 are corporations or state-owned enterprises, according to castellum.ai. Switzerland imposed the most sanctions against Russia with 568 actions, followed by the European Union (518), France (512) and the United States (243).

The economic pressure on Russia is increasing almost every day. The list of companies withdrawing or leaving business in Russia continues to grow due to sanctions and the war of aggression. Not all companies are legally obligated to do so due to restrictions. The United States and the European Union are currently discussing a possible ban on oil, natural gas and coal imports from Russia.

That night further sanctions were added: Japan announced that it was now banned from exporting oil production equipment to Russia. Japan also freezes the assets of 20 Russian officials and 12 Belarusians.