As I’m sure we all know Ukraine is currently being invaded by Russia. Unfortunately a lot of countries are scared to engage with Russia because they have a very powerful army. So instead of physically engaging with Russia many countries around the world have instituted sanctions on Russia. Many countries have targeted oil, seeing that Russia is one of the biggest producers of oil in the world. boycotting Russia’s oil is really destroying Russia’s economy.
SANCTIONS
Germany- Germany has put on Russia has made a big difference. Germany recently shut down the Nord Stream Two Pipeline. The shutdown of the Nord Stream Pipeline has lost Russia two billion dollars in potential income.
Chelsea FC- Chelsea one of the biggest Premier League (soccer league) teams in all of England. The owner of Chelsea is a Russian oligarch. And this oligarch supported Putin, so the British government froze his soccer team. He is now being forced to sell Chelsea.
SWIFT - Russia has now been kicked out of SWIFT. SWIFT is a global banking network that allows banks to make secure transactions. Without SWIFT the Russian financial network is in chaos because banks can not make most transactions.
These are just some of the sanctions that have been placed on Russia. I think that
all the sanctions on Russia are working very well. While the sanctions are extremely effective they also hurt us. The closing of the Nord Stream 2 pipeline has raised gas prices around the globe to a record high. Comment down below if you think the USA should keep adding sanctions.
-Isaac Becker
100% Writer