Sanctions against Russia – a timeline (2022)

Sanctions against Russia – a timeline (1)

Below is a select list of sanctions issued against the Russian government, Russian companies and Russian individuals since the invasion of Ukraine began, with dates and the issuing government. This timeline will be updated as new sanctions are announced.

➤ Oct. 6: European Union

Expands a ban on Russian steel products to include semi-finished steel. The European Council said in an Oct. 6 statement it is also banning the export of coal, including coking coal.

➤ Sept. 30: United States

Imposes sanctions on 14 individuals linked to Russia's military-industrial complex and 278 members of the Russian legislature involved in the referendums held in Ukraine. Russian central bank Governor Elvira Nabiullina is among the sanctioned individuals.

➤ Sept. 26: United Kingdom

Imposes 92 sanctions in response to referendums held by Russia that led to annexation of four regions of Ukraine. Sanctions targets include top Russian officials involved in enforcing the vote, oligarchs with a global net worth of £6.3 billion and 49 executives at Gazprombank (Joint-stock Company), Sberbank of Russia and PJSC Sovcombank.

➤ Aug. 3: Switzerland

Imposes additional measures against Russia in line with the EU's latest sanctions regarding gold and gold products and bans the country's largest bank, Sberbank of Russia, from providing funds, economic resources or technical services.

➤ July 21: European Union

Bans purchase, import or transfer of gold and jewelry originating from Russia and adds Sberbank of Russia, among other entities, to its sanctions list.

➤ June 29: United Kingdom

Adds 13 individuals and entities to its Russia sanctions list, including Moscow Industrial Bank and businessman Vladimir Potanin, Russia's second-richest man, who the Foreign Office said has acquired PJSC Rosbank and shares in JSC Tinkoff Bank since the invasion of Ukraine.

➤ June 28: United States

Sanctions 70 entities, many of which are tied to Russia's defense industry, including state defense entity Rostec, as well as 29 Russian individuals. Sanctions an additional 45 entities and 29 individuals; designates Russian Federation military units and redesignates Russia's Federal Security Service. Announces steps to impose visa restrictions, including on more than 500 Russian Federation military officers and on Russian Federation officials.

➤ June 27: G-7

G-7 countries introduce ban on Russian gold imports. The U.K., U.S., Canada and Japan announce ban on the import of newly mined or refined gold. Previously exported Russian gold is unaffected. The remaining G-7 members Italy, France and Germany could follow after EU discussions.

➤ June 22: United Kingdom

Prohibits the export to Russia of goods and technology related to chemical and biological weapons, oil refining and other critical industries. Prohibits the export to Russia of jet fuel and sterling- or EU-denominated banknotes.

Sanctions against Russia – a timeline (2)

Russian MiG-29 fighter jets. The U.K. has banned the export of jet fuel to Russia.
Source: Getty Images

➤ June 10: Switzerland

Decides to adopt the new sanctions announced June 3 by the EU against Russia and Belarus, including the exclusion of Sberbank of Russia and three other banks from the Society for Worldwide Interbank Financial Telecommunication, or Swift, financial messaging system.

➤ June 7: Japan

Freezes the assets of Russian Agricultural Bank, Credit Bank of Moscow and Belarus-based Belinvestbank JSC.

➤ June 6: United States

Issues guidance clarifying that earlier sanctions prohibiting the purchase of new debt and equity securities issued by Russian entities also applies to existing securities trading on secondary markets.

➤ June 3: European Union

Adopts a sixth package of sanctions including cutting off Sberbank of Russia, Credit Bank of Moscow and Russian Agricultural Bank from the Swift financial messaging system. Russia's NCO JSC National Settlement Depository, which had planned to service eurobonds, is also sanctioned. The measures include prohibiting the import of crude oil and certain petroleum products from Russia into the EU.

➤ May 31: Canada

(Video) ALL Sanctions Against Russia Animated Timeline

Imposes new sanctions targeting 22 individuals and four entities, including key Russian financial institutions and banks.

➤ May 25: European Union

Proposes to make violation of EU sanctions a criminal offence across the bloc, which would allow for the effective confiscation of assets of sanctioned individuals and entities.

➤ May 13: United Kingdom

Announces new sanctions on friends, family members and confidants of Russian President Vladimir Putin. Targeted individuals include Alina Kabaeva, who is alleged to have a close personal relationship with Putin, and Mikhail Klishin, an executive at Bank Rossiya.

Sanctions against Russia – a timeline (3)

Retired Russian gymnast and politician Alina Kabaeva, who is alleged to have a close personal relationship with Vladimir Putin, in Sochi, Russia, in 2014.
Source: Sasha Mordovets/Getty Images News via Getty Images

➤ May 9: United Kingdom

Announces new import tariffs on goods including platinum and palladium, and plans export bans on chemicals, plastics, rubber and machinery.

➤ May 8: United States

Announces new sanctions on Russia, targeting executive board members of Sberbank and members of Gazprombank JSC's board of directors. The new sanctions also target JSC Bank Moscow Industrial Bank, among other entities. In addition, three of Russia's top state-owned and/or controlled TV networks have been added to the sanctions list: JSC Channel One Russia, television station Russia-1 and JSC NTV Broadcasting Co. The move is intended to block the sale of equipment to the broadcasters and cut off any U.S.-originated advertising revenue from being funneled back to the Russian state.

➤ May 4: European Union

European Commission President Ursula von der Leyen says the bloc's sixth package of sanctions against Russia includes removing Sberbank of Russia, the country's largest bank, and two other major banks from the Swift financial messaging system.

➤ May 4: United Kingdom

Bans accountancy, management consultancy and public relation services exports to Russia and imposes sanctions on individuals in Russia's media industry.

➤ April 27: Canada

Imposes new sanctions on 11 senior officials and 192 other members of the People's Councils of the Luhansk and Donetsk People's Republics in the Donbas region in eastern Ukraine over Russia's attempted annexation of the areas.

➤ April 26: Poland

Imposes sanctions on 50 Russian companies and individuals, including JSC Alfa-Bank founder Mikhail Fridman and state-owned energy company PJSC Gazprom.

April 20: United States

Designates Russia-based Transkapitalbank and a network of more than 40 individuals and entities led by Russian oligarch Konstantin Malofeyev as being involved in attempts to evade sanctions. The designated individuals include executives linked to Russia-based Otkritie Financial Corp. Bank.

April 19: New Zealand

Imposes a new round of sanctions against 18 Russian financial entities, including Russia's central bank, Sberbank of Russia, VTB Bank PJSC and Gazprombank JSC.

April 19: Canada

Announces additional sanctions against Russia, targeting 14 individuals including Russian central bank Governor Elvira Nabiullina.

Sanctions against Russia – a timeline (4)

Russia's central bank governor, Elvira Nabiullina, speaks in St. Petersburg, Russia, on June 3, 2021.
Source: Mikhail Svetlov/Getty Images News via Getty Images


April 13: United Kingdom

Sanctions 206 individuals, including Gazprombank JSC Vice President Sergey Fursenko and six oligarchs.

April 13: Switzerland

Adopts the new sanctions announced April 8 by the EU against Russia and Belarus.

April 11: Japan

(Video) The sanctions on Russia, explained

Approves additional sanctions including an asset freeze on Sberbank of Russia and JSC Alfa-Bank. Introduces measures to prohibit new investment in Russia and reduce its reliance on Russia for energy, including phasing out and banning Russian coal imports.

April 8: European Union

Imposes a full transaction ban on four key Russian banks — VTB Bank PJSC, PJSC Sovcombank, Joint-Stock Commercial Bank Novikombank and Otkritie Financial Corp. Bank — representing 23% of market share in the country's banking sector. Also extends its prohibition on deposits to cryptocurrency wallets and on the sale of banknotes and transferable securities denominated in any official currencies of the EU member states to Russia and Belarus.

April 7: United States

Sanctions Russian state-owned diamond giant PJSC Alrosa-Nyurba, blocking all of its property and interests in the U.S.

April 6: United States

Announces full blocking sanctions on Sberbank and Alfa-Bank that will freeze any of the two banks' assets touching the U.S. financial system and prohibit U.S. persons from doing business with them. Also bans new investment in Russia and imposes full blocking sanctions on key companies owned by the Russian state, with their names to be disclosed at a later stage. Imposes full blocking sanctions against top Russian officials and their family members, including President Putin's adult children and Foreign Minister Lavrov's wife and daughter.

April 6: United Kingdom

Freezes assets of Sberbank and Credit Bank of Moscow. Bans new investment in Russia. Pledges to "end all dependency on Russian coal and oil" by the end of 2022 and to "end imports of gas as soon as possible thereafter." Takes action against Russian strategic industries and state-owned enterprises, including a ban on imports of iron and steel products. Sanctions eight additional oligarchs active in these industries.

April 5: European Union

Proposes import ban on Russian coal and a full transaction ban on four key Russian banks, including VTB Bank PJSC, a ban on Russian vessels and Russian-operated vessels from accessing European ports, and a ban on Russian and Belarusian road transport operators.

➤ March 31: United States

Imposes new sanctions targeting Russia's technology sector and related efforts to evade or bypass sanctions activity. Twenty-one entities and 13 individuals were added to the sanctions list, including Mikron, Russia's largest chipmaker and exporter of microelectronics, and supercomputer company T-Platforms.

➤ March 24: United States

Sanctions Russia's defense industry, the Russia Duma and Sberbank's CEO.

➤ March 24: United Kingdom

Issues 65 new sanctions against key industries including Russian Railways, defense contractor JSC Kronshtadt Group and six additional banks.

Sanctions against Russia – a timeline (5)

U.S. President Joe Biden meets with Polish President Andrzej Duda on March 25 in Rzeszow, Poland.
Source: Jeff J. Mitchell/Getty Images Europe via Getty Images

➤ March 18: United Kingdom

Revokes RT's license to broadcast in the U.K.

➤ March 18: Australia

Sanctions Sberbank, Gazprombank, VEB.RF, VTB Bank, Russian Agricultural Bank, Sovcombank, Novikombank, JSC Alfa-Bank and Credit Bank of Moscow.

➤ March 18: Russia

Bans Russian insurers from conducting transactions with reinsurers in the U.S., U.K., Australia, Canada, Japan, Switzerland, countries in the EU and other "unfriendly states."

➤ March 16: European Union

Sanctions Rostelecom PJSC President Mikhail Oseevsky, Yandex NV Deputy CEO Tigran Khudaverdyan and VK Co. CEO Vladimir Kiriyenko, preventing them from traveling to the EU or doing business with companies that operate there.

➤ March 16: U.S., Germany, U.K., Japan, European Commission, France, Italy, Canada and Australia

Launch the "Russian Elites, Proxies, and Oligarchs" task force to "collect and share information to take concrete actions, including sanctions, asset freezing, and civil and criminal asset seizure, and criminal prosecution."

➤ March 15: European Union

Bans supplies of energy-related equipment, technology and related services to Russia; bans new investments in the Russian energy sector; and tightens export restrictions on individuals connected to technology that could contribute to Russia's defense and security sector.

➤ March 15: United Kingdom

(Video) Cold War 2.0? The Global Economic Impact of Sanctions Against Russia | WSJ

Expands sanctions to include a number of individuals and entities, including the Internet Research Agency.

➤ March 15: United States

Sanctions Russians connected to human rights violations along with the "corrupt" leader of Belarus.

➤ March 11: United States

Sanctions Kremlin elites, oligarchs and Russia's political and national security leaders and imposes measures against North Korean weapons of mass destruction and ballistic missile programs.

➤ March 8: United States

Bans imports of Russian oil, gas and other energy.

Sanctions against Russia – a timeline (6)

The corporate headquarters of Gazprom Germania, the German unit of Russian natural gas company Gazprom.
Source: Sean Gallup/Getty Images News via Getty Images

➤ March 7: South Korea

Places export controls on software, equipment and technology.

➤ March 5: Singapore

Places export controls on software, equipment and technology. Freezes assets of and bans transactions with VTB Bank, VEB.RF, Promsvyazbank and Bank Rossiya, and bars transactions with the Central Bank of Russia.

➤ March 4: Switzerland

Extends its sanctions against Russia, imposing capital market restrictions on Alfa-Bank, Otkritie Financial Corp. Bank, Bank Rossiya, Promsvyazbank and others. Joins the Swift financial messaging system ban on seven Russian banks and imposes measures against the Central Bank of Russia.

➤ March 3: United States

Sanctions "numerous Russian elites and their family members," including Yevgeniy Prigozhin, the financier of the Internet Research Agency, and Alisher Usmanov, who holds significant interests in the telecom and IT sectors through a 49% ownership of holding company USM Holdings Ltd., along with information outlets controlled by Russian intelligence services.

➤ March 3: United Kingdom

Bars Russian aviation and space companies from insuring and reinsuring their risks in the country.

➤ March 3: Japan

Freezes assets of four additional Russian banks: VTB Bank, Sovcombank, Novikombank and Otkritie Financial Corp. Bank.

➤ March 2: European Union

Suspends broadcast activities of Russian state-owned or affiliated media Sputnik and RT/Russia Today in the EU, including search results and social media.

➤ March 2: United Kingdom

Places export ban on critical-industry technology.

➤ March 2: European Union

Names the Russian banks to be disconnected from the Swift bank network: Otkritie Bank JSC, Novikombank, PJSC Promsvyazbank, Bank Rossiya, Sovcombank, the state development corporation State Development Corp. VEB.RF and VTB Bank. Bans the sale, supply, transfer or export of euro-denominated banknotes to Russia and bans transactions with the Russian central bank.

➤ March 2: South Korea

Sanctions seven Russian banks and their subsidiaries. Bans trade in new Russian government bonds.

➤ March 2: Australia

Adds the Central Bank of Russia and Otkritie Financial Corp. Bank to its sanctions list.

➤ March 2: United Kingdom

(Video) "These are Putin's sanctions": Understanding the economic sanctions against Russia

Sanctions Sberbank, prohibiting the bank from carrying out correspondent banking and sterling clearing transactions.

➤ March 1: Japan

Restricts transactions with the Central Bank of Russia; freezes assets of VEB.RF, Promsvyazbank and Bank Rossiya; and joins Europe and the U.S. in excluding select Russian banks from the Swift financial messaging system.

Sanctions against Russia – a timeline (7)

Sberbank CEO Herman Gref.
Source: Sberbank

Feb. 28: European Union

Places capital market restrictions on Alfa-Bank, Otkritie Financial Corp. Bank, Bank Rossiya and Promsvyazbank.

➤ Feb. 28: United Kingdom

Freezes assets of VEB.RF, Otkritie and Sovcombank.

➤ Feb. 28: United States

Blocks transactions with the Central Bank of Russia.

➤ Feb. 26: U.S., EU, U.K. and Canada

Ban select Russian banks (unnamed at this point) from the Swift financial messaging system and impose restrictive measures on the Central Bank of Russia.

➤ Feb. 25: United States

Sanctions President Vladimir Putin and Minister of Foreign Affairs Sergei Lavrov.

➤ Feb. 25: Taiwan

Places export controls on software, equipment and technology.

Feb. 24: United States

Issues correspondent and payable-through account sanctions on Sberbank and its subsidiaries; full blocking sanctions on VTB Bank, Otkritie Financial Corp. Bank, Sovcombank and Novikombank and their subsidiaries, freezing their U.S. assets and prohibiting U.S. persons from dealing with them; and new debt and equity restrictions on Sberbank, Alfa-Bank, Credit Bank of Moscow, Gazprombank, Russian Agricultural Bank and other Russian companies.

Feb. 24: United Kingdom

Freezes assets of VTB Bank.

➤ Feb. 24: Canada

Freezes assets of and prohibits dealings with various Russian individuals and entities, including major banks.

Feb. 24: Poland

Withdraws five Russian channels from the register of permitted TV services.

Feb. 24: U.S., EU, Japan, Australia, U.K., Canada and New Zealand

Place export controls on software, equipment and technology.

Feb. 23: Australia

Sanctions Bank Rossiya, Promsvyazbank, VEB.RF and others.

Feb. 23: European Union

Issues "targeted restrictive measures" against 27 "high profile individuals and entities" and measures against all 351 members of the Russian State Duma as well as restrictions on economic relations with the breakaway regions of Donetsk and Luhansk. Issues sectoral prohibition on financing the Russian Federation, its government and the Central Bank of Russia. Freezes assets of Bank Rossiya, Promsvyazbank and VEB.RF.

Feb. 22: United States

(Video) The true impact of sanctions on Russia | DW Business Special

Sanctions Promsvyazbank, VEB.RF and their subsidiaries.

➤ Feb. 22: United Kingdom

Freezes assets of Black Sea Development and Reconstruction Bank, Industrial Savings Bank, Genbank, Bank Rossiya and Promsvyazbank.

FAQs

When did sanctions against Russia start? ›

On 17 March 2014, the United States, the European Union, and Canada introduced specifically targeted sanctions, the day after the Crimean pseudo-referendum and a few hours before Russian president Vladimir Putin signed a decree recognizing Crimea as an independent state, laying the groundwork for its annexation of ...

Are sanctions having an effect on Russia? ›

More than 30 countries have imposed sanctions against Russia, cutting energy imports, blocking financial transactions and halting shipments of key imports, such as semiconductors and other electronics.

When did Russian sanctions begin 2022? ›

International Sanctions

In addition, two days before Russia's attack, the German government suspended certification of the Nord Stream 2 pipeline. Starting in December 2022, the EU is to ban most Russian oil imports.

What goods Cannot be exported to Russia from the EU? ›

Private aircraft, e.g. private business jets, are included in the ban. In addition, the EU banned the export to Russia of goods and technology in the aviation and space industry. Insurance services, maintenance services and technical assistance related to these goods and technology are also prohibited.

Can Europe survive without Russian gas? ›

Replacing 130 bcm of natural gas imports from Russia within a year would be a significant challenge, but, as our rough estimates show, not impossible.

Who can impose sanctions? ›

The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities ...

How long do sanctions last for? ›

High-level sanctions usually last for 91 days but if you have had a high-level sanction within the last year it can last 182 days.

What is the state of the Russian economy right now? ›

The Russian economy is shrinking

According to independent analysis by the World Bank, International Monetary Fund and the Organisation for Economic Cooperation and Development (OECD), 2022 will be a bad year for the Russian economy.

How is the economy in Russia? ›

Russia's current account surplus - the difference in value between exports and imports - more than tripled year-on-year in the first seven months of 2022, to a record $166.6 billion, as revenues soared while sanctions caused imports to plunge.

Is it legal to send money to Russia? ›

E.O. of March 11, 2022 prohibits the exportation, reexportation, sale, or supply, directly or indirectly, from the United States, or by a United States person, wherever located, of U.S. dollar-denominated banknotes to the Government of the Russian Federation or any person located in the Russian Federation.

How many Russians has UK sanctioned? ›

What you need to know about the UK's sanctions on Russia. We have now sanctioned more than 1,200 people and over 120 businesses since Putin's invasion of Ukraine. We update the UK Sanctions List every time a decision is made to make, vary or revoke a designation.

How do I send money to Russia in 2022? ›

Ways to Send Money to Russia
  1. Bank-to-Bank SWIFT Transfers.
  2. Online Money Transfer Services.
  3. In-Store Cash Transfers.
  4. Paypal, Yandex and WebMoney.
14 Sept 2022

Can Russian citizens leave Russia now? ›

It is currently still possible to leave Russia by crossing the border into Finland, Estonia or Latvia in your own car. Check the Russian exit rules and the entry rules of your country of destination carefully before departure. Take into account that it may get very busy at border crossings if the situation gets worse.

Which countries are sanctioning Russia? ›

After Russia invaded Ukraine on 24 February 2022, two countries that had not previously taken part in sanctions, namely South Korea and non-UN member state Taiwan, engaged in sanctions against Russia.

Which Russian banks are sanctioned? ›

Sberbank, VTB bank, Gazprombank, Vnesheconombank (VEB), Rosselkhozbank (as listed in Schedule 2) an entity incorporated or constituted in a country other than the UK which is owned by one or more of the five banks listed above.

Who buys the most oil from Russia? ›

China overtook Germany as the largest importer, importing nearly 2 million barrels of discounted Russian oil per day in May—up 55% relative to a year ago.
...
The Top Importers of Russian Fossil Fuels.
CountryValue of fossil fuel imports from Russia (Feb 24 - Jun 4)% of Russian fossil fuel export revenue
China$13.2B13.5%
9 more rows
28 Jun 2022

Who buys oil from Russia? ›

India and China now account for over half of all Russia's seaborne oil exports. Russia is now China's biggest supplier of oil, taking over from Saudi Arabia in 2022. In March this year, combined oil imports by China and India from Russia overtook those from the 27 EU member states.

What will replace natural gas? ›

Hydrogen could heat homes around the country from next year, with all five of Britain's gas grid companies preparing capability to provide the gas.

What sanctions did us put on Russia? ›

Today, the United States is announcing the following actions:
  • Full blocking sanctions on Russia's largest financial institution, Sberbank, and Russia's largest private bank, Alfa Bank. ...
  • Prohibiting new investment in the Russian Federation. ...
  • Full blocking sanctions on critical major Russian state-owned enterprises.
6 Apr 2022

Why are there sanctions on Russia? ›

The USG has escalated sanctions on Russia since 2014 in response to Russia's incursions into and invasion of Ukraine, cyber-attacks, malign influence, use of chemical weapons, and election meddling.

What are the EU sanctions on Russia? ›

Trade sanctions adopted on 3 June 2022

II An expansion of the list of goods and technology which may contribute to the technological enhancement of Russia's defence and security sector and whose export is prohibited. This includes 80 chemicals which can be used to produce chemical weapons.

Who Created sanctions? ›

The United Nations issues sanctions by consent of the United Nations Security Council (UNSC) and/or General Assembly in response to major international events, receiving authority to do so under Article 41 of Chapter VII of the United Nations Charter.

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