Topline
The Biden Administration said Friday it will slap sanctions on Russian President Vladimir Putin and Foreign Minister Sergei Lavrov, following announcements of sanctions on the two earlier in the day by the European Union and the United Kingdom in response to Moscow’s attack on Ukraine.
Key Facts
The United States will freeze the personal assets of Putin and Lavrov, after previously sanctioning a number of Russian elites, and impose a travel ban on the two, the White House said Friday, promising more details later.
EU leaders agreed earlier in the day to freeze Putin and Lavrov’s assets under a new sanctions package, making Putin the third national leader—after Syrian President Bashar al-Assad and Belarusian President Lukashenko—to be sanctioned by the bloc.
The EU’s sanctions package would not include a travel ban on Putin and Lavrov, the Financial Times first reported, citing three people familiar with the matter.
The EU’s sanctions package would not affect the EU’s Russian energy imports or kick Russia out of the international payment system SWIFT, Reuters reported, though Luxembourg Foreign Minister Jean Asselborn said the bloc has not ruled out the latter.
The EU’s sanctions would target Russian elites and make it more difficult for diplomats to travel, Reuters reported.
U.K. Prime Minister Boris Johnson tweeted Friday he will introduce sanctions on Putin and Lavrov “imminently,” without providing details, a day after the U.K. banned Russian civilian aircraft from its airspace, including the private jets that are the preferred means of travel for Russian oligarchs.
Johnson called on leaders to swiftly cut Moscow off from SWIFT to “inflict maximum pain” on Putin.
Surprising Fact
The exact scope of Putin’s wealth is unknown. Bloomberg reported that his official annual income is around 10 million rubles ($120,850), and his properties include three cars and an apartment, but it’s suspected that he has a fortune held for him by Russian oligarchs.
Key Background
Ukrainian President Volodymyr Zelenskiy called on Europe earlier on Friday to promptly impose sanctions on Russia for launching a full-scale attack on Ukraine, saying the bloc should consider all measures, including kicking Russia out of SWIFT. The bloc agreed in principle overnight Friday to impose “massive and targeted” sanctions on Russian banks and energy industry. Western countries ranging from Australia to Canada to Japan have joined the U.S., the EU and the United Kingdom in imposing economic sanctions on Russia after Putin officially recognized the pro-Russia states of Donetsk and Luhansk in eastern Ukraine as independent earlier this week. President Joe Biden on Thursday announced new economic punishments on Moscow, including sanctions on four large Russian banks and Russian elites and their family members.
Further Reading
EU preparing to freeze Putin and Lavrov’s assets (Financial Times)
The E.U. plans to freeze Putin’s assets, diplomats say. (New York Times)
What Is SWIFT? Here’s How This Banking System Could Be Used To Punish Russia For Invading Ukraine (Forbes)
