The United States and the European Union have imposed economic sanctions to Russia after its invasion of Ukraine. Beyond Putin’s entourage, they impact millions of people.
By Haskell Richmond and Daniel Serina – 6th grade.
Sanctions consist of many restrictions on companies, banks, and billionaires. These measures are usually put on countries when they commit war crimes or when they are at war against a population or have attacked one of your allies. Since a lot of countries put sanctions on Russia, it is suffering from money loss. The trade routes have been blocked so people are not getting enough food and prices are rising. Also companies like Netflix and many more are boycotting Russia.
Many luxurious goods are being banned by the United Kingdom (UK) and by the European Union (EU). The UK has been putting a 35% tax on some imports from Russia. The UK, EU, and US have also been banning Russian imports to come to their countries. In addition, restrictive measures have been put in place to prevent the Russian Central Bank from weakening the sanctions. Communications are also impacted: the EU has blocked the Russians from international messaging applications.
Oil, technologies and football
The US also put large restrictions on semiconductor telecommunication, encryption security, lasers, sensors, navigation, avionics and maritime technologies. Oligarch Nikolai Tokarev has been sanctioned by the US, because he owns 90% of oil transportation extracted from Russia, and he served in the KGB with Putin in the 1980s. The EU and the US believe it helped Putin with making Russia more powerful.
Surprisingly, professional football finds itself affected. In the British Premier league, FC Chelsea’s owner Roman Abramovich was one of the seven Russian oligarchs to be sanctioned. Because of this, the club cannot sell any tickets for upcoming games, nor sell merchandise, nor buy or sell players.
As the world waits to see the political efficiency of these sanctions on Moscow, energy prices are on the rise globally and Russians see their daily life breaking apart.