What's happening with Russia's assets frozen in the West?
The Kyiv Independent’s business reporter Dominic Culverwell explains how confiscating the assets could be used to help Ukraine and why it hasn’t happened yet.
Sanctions against Russia
Russian finance minister says GDP expected to grow 3.6% in 2024, matching 2023's rate
The announcement followed comments earlier in the week from finance ministry official Lev Denisov, who said that the initial 2.3% estimate would be revised upwards due to the "strong growth of the economy" at the beginning of 2024.
Bloomberg: Russian aluminum company could lose 36% of sales due to sanctions
Nearly 40% of sales at Russia's largest aluminum producer, Rusal, are at risk due to sanctions imposed by the U.S. and U.K., Bloomberg reported on April 16.
Bloomberg: US sanctions office looks into chip supply companies over use in Russia's war
U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is investigating several U.S. and foreign companies for supplying military-purpose chips which end up in Russia, Bloomberg reported on April 12, citing an unnamed U.S. official.
European Council adopts law on criminal offences, penalties for EU sanction violation
The European Council approved the law on the prosecution of violation or circumvention of EU sanctions, mainly concerning the sanctions against Russia, the parliament's press service reported on April 12.
Bloomberg: Western sanctions curb Turkey's trade with Russia
Turkish machinery exporters, who benefited from the surge in sales to Russia last year, may see their revenues drop by $1 billion in 2024 due to "ambiguous" sanctions, Bloomberg said, citing Kutlu Karavelioglu, the chairperson of the Machinery Exporters' Association.
Media: EU bans Turkish airline due to links with Russia
The EU has banned the Turkish airline Southwind from flying in its airspace due to links with Russia, Turkish newspaper Cumhuriyet reported on March 30.
Media: Armenian exports to Russia rise despite political tensions
Bilateral trade between Russia and Armenia has flourished since 2022, providing ground for the accusations of alleged sanctions circumvention, media outlet Euroactiv reported on March 28.
European Parliament votes to criminalize circumvention of EU sanctions
The new directive defines the circumvention of sanctions and ensures that it will be treated as an offense punishable by a prison sentence of up to five years in all member states.
Canada imposes sanctions on 6 Russian officials over Navalny’s death
The new sanctions will be imposed on six Russian officials, including senior officials and employees of Russia's prosecution, judicial, and correctional services.
Switzerland joins EU in expanding sanctions against Russia
Switzerland has expanded its sanctions against Russia in line with the European Union’s 13th package of sanctions, the Swiss government announced on March 1.
Canada imposes additional ban on imports of Russian diamonds
Canada has banned indirect imports of Russian diamonds weighing one carat and above, Canada's Foreign Ministry announced on March 1.
Biden announces new package of sanctions against Russia
“Today, I am announcing more than 500 new sanctions against Russia for its ongoing war of conquest on Ukraine and for the death of Aleksei Navalny, who was a courageous anti-corruption activist and Putin’s fiercest opposition leader,” U.S. President Joe Biden said in a statement published by the White House.
EU adopts 13th package of Russia sanctions
The package targets an additional 106 individuals and 88 entities involved in Russia’s aggression against Ukraine. The list includes includes companies from India, Sri Lanka, China, Serbia, Kazakhstan, Thailand, and Turkey.
Restrictions tighten in 10th EU sanctions package against Russia
The European Council announced in a statement on Feb. 25 that they had adopted the 10th package of sanctions against Russia and those who support its war against Ukraine. "Today's 10th package of sanctions targets those who are instrumental in the continuation of this brutal war. We are taking more
Report: At least 47 top companies at risk of having major assets seized by Russia
The stakes are becoming increasingly high for the companies that have refused to pull out of Russia following its brutal invasion of Ukraine. A quarter of the world’s 200 largest companies are at risk of having key assets seized by the Russian government, according to a new report from
Harley Balzer: Don’t believe Putin’s propaganda. Sanctions are hurting Russia
Editor’s Note: This op-ed was published by Atlantic Council. It is republished here with permission. The Putin regime has long sought to convince Russians that international sanctions imposed over the invasion of Ukraine are actually beneficial for the country. Russia’s propaganda machine has also succeeded in persuading many
Three years of reporting, funded by our readers.
Millions read the Kyiv Independent, but only one in 10,000 readers makes a financial contribution. For our third birthday this November, we're looking for 1,000 new members to fund our mission and to help us prepare for what 2025 might bring. We’re relying on you.
Help us get 1,000 new members!
Most popular
Editors' Picks
Kremlin finds new enemies to target — Russians without kids
With Scholz's government in shambles, conservative rival touts more decisive Ukraine strategy
Ukraine reacts warily to Trump appointments as Russia’s war rages on
