Beginning on February 22, in a blitzkrieg of political brinkmanship led by the United States and its European allies, Russia became the target of 2,778 new sanctions, taking them to a total of 5,532.
Its nearest neighbour in the sanctions black list is Iran, on 3,616 sanctions, accrued over the course of a decade, mostly due to its nuclear programme and support of terrorism.
Before Putin’s ill-advised invasion of Ukraine, Russia had been in second place on 2,754 sanctions.
Peter Piatetsky, a former Treasury Department official in the Obama and Trump administrations who co-founded Castellum.AI (a global sanctions-tracking database), says, “This is financial nuclear war and the largest sanctions event in history”.
Russia’s President Vladimir Putin agrees, saying the sanctions imposed upon his country are “akin to a declaration of war”.
Many of the U.S. sanctions against Russia before its invasion of Ukraine war were for interfering in its 2016 election and for attacking political dissidents.
The majority of the sanctions against Russia since the invasion are against individuals – 2,427, compared with 343 against entities (i.e. companies or government agencies).
Perhaps somewhat surprisingly, Switzerland leads the way on the number of new penalties imposed against Russia since the invasion, with 568 new sanctions. That compares with 518 for the EU and 243 from the United States.
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