Economic sanctions are a powerful tool. But will they end the war in Ukraine?
More than 30 countries, including the United States, Japan and members of the European Union, have imposed sweeping economic sanctions against Russia in response to the war in Ukraine.
The main Russian banks have been excluded from the SWIFT system, and of the $640 billion in Russian central bank foreign exchange reserves, the approximately $300 billion in reserves held or managed in dollars, euros or yen by the central banks of the aforementioned countries were frozen. The countries also decided to limit imports of Russian oil, gas and coal as much as possible and revoked Russia’s most favored nation trade status.
Can’t see this item?
This may be due to a conflict with your ad blocking or security software.
please add japantimes.co.jp and piano.io to your list of allowed sites.
If that doesn’t solve the problem, or if you’re unable to add the domains to your allowlist, please visit this support page.
We humbly apologize for the inconvenience caused.
In an age of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us tell the story well.