Brutal economic sanctions have been targeted to hit the very top of Russia’s elite and make it hurt, including President Vladimir Putin.
It is now subject to a devastating 5000 different sanctions, according to data from global watchlist database Castellum. AI, with 2778 imposed after February 22.
Stream more finance news live & on demand with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free.Students wave flags as they gather in support of Russia following the Russian invasion of Ukraine, at the university of Damascus in the Syrian capital. Picture: Louai Beshara/AFP Surprisingly, 90 per cent of sanctions so far have targeted individuals with priority targets like politicians, including Russian President Vladimir Putin and top government officials, as well as oligarchs and their families, the data showed.
A woman leaves a currency exchange office displaying the US dollar and the euro signs in Saint Petersburg. Picture: Olga Maltseva/AFP “Russia’s reaction will be swift, thoughtful and sensitive for those it addresses,” Dmitry Birichevsky, the director of Russia’s Foreign Ministry’s department for economic co-operation, was quoted as saying by the RIA news agency.
“The economic costs are going to be huge – in due course unemployment is going to rise as money is pulled from the banks and the banks are faced with liquidity problems – they are going to be collapsing, so the Russian government is going to have bail them out,” she said.
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