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I cannot see sanctions making much difference. Kicking Russia out of Swift might but it looks like Germany is not enthusiastic about that idea.
Exactly CAS, to have any chance of working sanctions must be the worst the West can make them.
After a Russian ship was ceased by France for breaking sanction rules we should – if possible – stop Russia from using the English Channel and Mediterranian and North Sea.
Value Is EverythingNot even sure about what the Germans have agreed to with Nord Stream.
“Halt”ing Nord Stream does not to me sound the same as stopping it completely. Russians will be thinking it’ll be starting again as soon as they have Ukraine. Postponing Nord Stream is not good enough. Putin must be told Nord Stream will not be completed unless / until Russia moves out of Ukraine.Value Is EverythingNot convinced that wholesale cancellation of Nordstream will bother Putin unduly: he’s been ‘looking east’ for gas markets
It should be noted that the major Russian Oil/Gas fields are far to the east of ‘European Russia’ in Siberia, and therefore the big South Asian economies are at a similar distance from them as the Western European economies
A pipeline to India has been mooted, though was last year “abandoned” but that was another time, another world:
https://www.seetao.com/details/86540.html
Pakistan have been sounding him out:
Renewables on the burner as gas pipeline dominates Imran Khan’s Russia trip
And of course his new chums in China:
Pakistan is a poor country with poor people, hate to say it but can understand their reliance on Russian oil.
Value Is EverythingIt just goes to show how cynical society can get. It’s easy standing up and denouncing
a regime, unless you think, hmm, hang on a minute there’s an oppertunity here. Imran Khan,
knowing the position with Ukraine, whilst China struck their deal before Putin’s intentions
were known (do me a favour
), should be ashamed to be using the situation to
feather his Country’s interests by negotiating with Putin whilst Ukraine is under attack .It’s like something out of the Godfather, it’s not personal Ukraine, it’s just business
Looks like Russian banks are going to be excluded from Swift, after Germany was put under pressure to agree.
They shouldn’t have needed there arm dragged up there back ….but if it needed done , I see George ” Lord Hee Haw “” Galloway defending Russia insurgence , I believe Moscow is nice at this time of year , perhaps George should visit ….permanently , they could give him Philby,s flat
For interest, the following is a general summary from “BBC News” on sanctions imposed by Western allies against Russia.
Please note particular details of sanctions against Russian banks (“selected”) and their exclusion from the SWIFT financial payment system. Please also note EU “only” sanctioned 70% of banks. (What about the remaining 30% ?) But, most all, pay close attention to the very last paragraph which is most telling…“Ukraine: What sanctions are being imposed on Russia?” Published 1 hour ago
Western nations have imposed severe sanctions on Russia following its invasion of Ukraine.
The measures are designed to cripple Russia’s economy and punish its government for taking military action.What is a sanction?
A sanction is a penalty imposed by one country on another, often in order to stop it acting aggressively or breaking international law.
Sanctions are often designed to hurt a country’s economy, or the finances of individual citizens such as leading politicians. They can include travel bans and arms embargoes.They are among the toughest measures nations can use, short of going to war.
What sanctions are Western nations imposing?
The EU, UK, US and their allies increased sanctions against Russia on Saturday. Measures include:
Removing selected Russian banks from the Swift messaging system. The aim is to cut them off from the international financial system and “harm their ability to operate globally”
Freezing the assets of Russia’s central bank, to limit Russia’s ability to access its overseas reserves
Limiting the sale of citizenship via “golden passports”, which allow wealthy Russians to become citizens
Launching a transatlantic task force to identify and freeze the assets of sanctioned individuals and companies
Targeting more “officials and elites close to the Russian government, as well as their families”
Taking action against disinformation
A series of other sanctions had already been announced.
Both the UK and the EU said they planned to sanction Russian President Vladimir Putin and foreign minister Sergei Lavrov.
The UK also announced:
all major Russian banks to have their assets frozen and be excluded from the UK financial system
laws to stop major Russian companies and the state raising finance or borrowing money on UK marketsRussia’s Aeroflot airline will be banned from the UK
export licences suspended for dual-use items which can be used for military purposes
a stop to exports of high-tech items and oil refinery equipment
a limit on deposits Russians can make to UK bank accounts
EU nations sanctions also include:
targeting 70% of the Russian banking market and key state owned firms, including defence firms
targeting the energy sector with an export ban on materials Russia uses for oil refineries
banning the sale of aircraft and equipment to Russian airlines
limiting Russia’s access to high-tech, such as semiconductors and software
US President Joe Biden announced measures against a series of banks and individuals. He said the US and allies would cut off more than half of Russia’s high-tech imports to stop it developing its military capabilities
Germany has put on hold permission for the Nord Stream 2 gas pipeline from Russia to Germany to open.
Australia has imposed sanctions on wealthy Russians and over 300 members of the Russian parliament who voted to authorise sending Russian troops into Ukraine.
Japan is sanctioning Russian financial institutions and individuals and halting exports of goods such as semiconductors.
The UK, US and Australia are also imposing financial sanctions on Belarus for its role in the assault on Ukraine.
How will these sanctions affect Russia?
A ban from Swift will delay the payments Russia gets for exports of oil and gas.
When Swift banned Iran in 2012 – under pressure from the US – that country lost almost half of its oil export revenues and 30% of foreign trade.
However, Russia could get paid through other systems – for example, China’s Cross-Border Interbank Payment System.What is Swift and why is banning Russia so significant?
Freezing the assets of Russia’s central bank will limit its ability to access its overseas reserves.
The measures taken against Russian financial institutions are intended to cause a big fall in the country’s currency, the rouble, and a financial crisis.Its government might have to bail out the banking system, at great expense. However, it has built up reserves of over $630bn (£464bn) to deal with economic shocks.
The UK government has also threatened further action against Russian money in London financial institutions and banks. It has promised to push through long-delayed measures requiring people to say where their cash comes from.
Banning exports of high-tech goods to Russia – such as semiconductor microchips – could affect Russia’s defence and aerospace sectors and industries such as car production.
What other sanctions could Russia face?
Western nations could also look at the option of blocking Russian oil and gas exports – which make up a fifth of Russia’s economy and half of its earnings from exports.
As such, refusing to buy its oil and gas would be a very tough sanction.
However, it would also be damaging to Western nations that rely on it.Russia supplies 26% of the EU’s crude oil and 38% of its gas. Even a brief cut in gas supply would raise energy prices.
I see that “Anonymous” have Putin in their sights:
It beggars belief that the Foreign Secretary Liz Truss would support
people from the UK making their way to Ukraine to join an international
force to fight, but not our troops. She said ” it was up to people to
make their own decisions, but argued it was a battle “for democracy”So she would support sending an untrained “army” of men (and women)
to join forces in Ukraine whilst our troops are sitting on their butts.Don’t get me wrong, I’m not suggesting sending UK troops in, but even
less so a well meaning bunch of UK ordinary citizens, many of whom would
be killed.Russia have the military weaponry and technology to flatten the Ukraine,
which would be a disaster for the Ukraine but and also huge mistake for
Putin politically. Something would have to be done and Putin already has
his neuks on standby. I have no idea how these talks will go, I can’t see
either side wanting to stand down, unless Putin gets the type of assurances
he wanted in the first place. Even so, he may want more than he says,Well at least if it escalates to us all getting involved and the neuks come our
way, at least I’ve got the comfort of knowing I won’t know much about it as
the 1st target is less than 10 miles from me
Some of you further south
might have the chance to say, feck me that’s BigG away (never liked him anyway)
before the fallout heads your way.Apologies for the black humour, it’s just something I got used to using. Maybe
the talks might go better than I think and many lives can be spared
Agree it was a slightly surprising statement from Truss but there is not much the government can do if someone really wants to go to Ukraine to fight.
It is a case of history repeating itself to an extent. Britain refused to get involved in Spain after its democratically elected government was overthrown in a military coup in 1936 but raised no objection to anyone going to fight in Spain voluntarily.
Plenty did go to join the International Brigades. Some even went to fight on Franco’s side.
On the subject of gestures of support, it really depends on where they are coming from. If sportspeople wear Ukrainian colours or people change their social media pictures to a Ukraine flag then why not. There’s little these people can actually do.
If however a government lights its buildings up blue and yellow and says the right thing about standing shoulder to shoulder with Ukraine but tells their refugees to get into the visa queue along with everybody else then those gestures may seem somewhat hollow.
Absolutely agree Cork, it was more internal then but definitely can draw similarities.
I can tell you a strange thing, my wife and I were over in Spain and went to a Spanish
War Exhibition of those times, in Cartgena. Really interesting, but the weirdest thing
was we came across a photograph of one of the fighters who came over from the UK, who
was the complete image of my wife’s father. Not just a little bit like him, an exact
replica even down to his bald head and the round glasses he wore. Uncanny, I had to ask
my wife are you sure your father wasn’t away from home for a while, he would have been
34 at the time and well before my wife was born. If we all have a doppleganger as some
say, this was his.Sorry to deviate, just that it was so strange.
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