International sanctions during the Russian invasion of Ukraine

Following the full declaration of the Russian invasion of Ukraine, which started on 24 February 2022, many countries and groups took strong steps to show their disapproval. The United States, the European Union, and other Western countries put in place or made much stronger rules called sanctions. These sanctions were aimed at important leaders like Russian president Vladimir Putin, other government members, and many Russian citizens.

Some big Russian banks were banned from using the SWIFT international payments system, which made it harder for Russia to do business with the rest of the world. These sanctions and the boycotts of Russia and Belarus caused many problems for the Russian economy. Even so, Russian leaders found ways to lessen these problems. They bought important goods from places that don't usually have export rules, used worldwide supply chains cleverly, and traded more with countries like China, India, Turkey and the UAE that did not follow the Western sanctions.

Background

Main article: International sanctions during the Russo-Ukrainian War

Western countries and others put sanctions on Russia after it took control of parts of Ukraine in February 2022. These sanctions included cutting off some Russian banks from a special money network called SWIFT, freezing a lot of Russia's money, and stopping some trade. Big companies like Apple and IKEA also decided to stop doing business with Russia.

Countries like Switzerland and Singapore agreed to some sanctions too. Germany stopped a big pipeline from Russia and started buying energy from other places. The United States added more sanctions, including stopping Russia from using gold and targeting defense companies. Many companies and groups chose to stop working with Russia because of these sanctions.

Sanctions

Western countries and others began imposing limited sanctions on Russia when it recognised the independence of self-declared Donbas republics. With the commencement of attacks on 24 February, a large number of other countries began applying sanctions with the aim of affecting the Russian economy. The sanctions were wide-ranging, targeting individuals, banks, businesses, monetary exchanges, bank transfers, exports, and imports.

After Russia invaded Ukraine on 24 February 2022, two governments that had not previously taken part in sanctions, namely South Korea and non-UN member state Taiwan, engaged in sanctions against Russia. On 28 February 2022, Singapore announced that it will impose banking sanctions against Russia for Ukraine invasion, thus making them the first country in Southeast Asia to impose sanctions upon Russia. The sanctions also included materials that could be used for weapons against Ukraine, as well as electronics, technology devices and related equipment, which were listed in a detailed statement on 5 March.

On 25 February and 1 March, Serbia, Mexico and Brazil announced that they would not be participating in any economic sanctions against Russia.

On 28 February, the Central Bank of Russia was blocked from accessing about $300 billion in foreign-exchange reserves held abroad and the EU imposed sanctions on several Russian oligarchs and politicians. On the same day US Foreign Assets Control (OFAC) prohibited United States persons from engaging in transactions with Central Bank of Russia, Russian Direct Investment Fund (including its predecessor, JSC RDIF, sanctioned previously), the Russian Venture Company, and Kirill Dmitriev, an ally of Vladimir Putin, personally.

Sergei Aleksashenko, the former Russian deputy finance minister, said: "This is a kind of financial nuclear bomb that is falling on Russia." On 1 March, the French finance minister Bruno Le Maire predicted that the West would freeze "almost 1,000 billion dollars" of Russian assets, which would cause a collapse of the Russian economy. By July 2023, Russian assets frozen by the G7 countries and the EU were estimated at $335 billion (€300 billion). On 20 April 2022 the Yermak-McFaul Expert Group on Russian Sanctions arranged by Zelenskyy published an "Action Plan for Strengthening Sanctions against the Russian Federation". The document contained recommendations for the international democratic community regarding further sanctions and economic measures, designed to force the Russian leadership in the shortest possible time to end the war in Ukraine and to punish those who committed war crimes.

In a March interview with 60 Minutes correspondent Sharyn Alfonsi, Daleep Singh, then the U.S. Deputy National Security Advisor, who previously crafted U.S. sanctions in 2014 in response to Russian annexation of Crimea, described the sanctions as the "most severe economic sanctions ever levied on Russia". He added that the U.S. was not "pressing buttons to destroy an economy" and said that the sanctions should have "the power to impose overwhelming costs on your target".

On the morning of 24 February, Ursula von der Leyen, the president of the European Commission, announced "massive" EU sanctions to be adopted by the union. The sanctions targeted technological transfers, Russian banks, and Russian assets. Josep Borrell, the High Representative of the Union for Foreign Affairs and Security Policy, stated that Russia would face "unprecedented isolation" as the EU would impose the "harshest package of sanctions [which the union has] ever implemented". He also said that "these are among the darkest hours of Europe since the Second World War". President of the European Parliament Roberta Metsola called for "immediate, quick, solid and swift action" and convened an extraordinary session of Parliament for 1 March.

Since February, the European Union has sanctioned exports to the Russian Federation at a total value of €43.9 billion and imports to the EU worth €91.2 billion, including financial and legal services.^{[needs update]}

In February 2024, the European Union proposed sanctions that would target Chinese companies aiding Russia's war effort in Ukraine.

Fossil fuels and other commodities

Further information: 2022 Russian crude oil price cap sanctions, 2023 Russian oil products sanctions and price cap, Embargo of Russian oil during the Russo-Ukrainian War, and EU natural gas price cap

On 28 February 2022, Canada banned imports of Russian crude oil. On 8 June, Canada banned services to the Russian oil, mining, gas, and chemical industries.

On 8 March, US president Joe Biden ordered a ban on imports of oil, gas and coal from Russia to the United States.

Also on 8 March, Shell announced its intention to withdraw from the Russian hydrocarbons industry.

Switzerland is a major hub for commodities trading globally. As such, about 80% of Russia's commodity trading goes through Geneva and there are an estimated 40 commodities companies linked to Russia in Zug. Glencore, Gunvor, Vitol, Trafigura and Lukoil Litasco SA are oil and commodities trading firms with stakes in Rosneft and Lukoil, two major Russian oil companies. Magnitogorsk Iron and Steel Works (MMK), a Russian-based company in Lugano, is also a major player in commodities/steel trading with Eastern Europe.

In May, the European Commission proposed a ban on oil imports from Russia. The proposal was reduced to a ban on oil imports by sea to appease Hungary, whose prime minister, Viktor Orbán, has befriended Putin and which gets 60% of its oil from Russia via pipelines. European imports of oil supplied by pipeline from Russia are estimated at 800,000 barrels a day and are exempted from the sanctions, with oil transit insurance bans being phased in over several months. Germany and Poland have vowed to end pipeline deliveries. The embargo on crude oil began in December 2022 and oil products in February 2023.

In response to the invasion of Ukraine by Russia, the European Commission and International Energy Agency presented joint plans to reduce reliance on Russian energy, reduce gas imports from Russia by two thirds within a year, and completely by 2030. In April, European Commission president Ursula von der Leyen said "the era of Russian fossil fuels in Europe will come to an end". On 18 May, the European Union published plans to end its reliance on Russian oil, natural gas and coal by 2027.

On 2 September, the G7 group of nations agreed to cap the price of Russian oil in order to reduce Russia's ability to finance its war with Ukraine without further increasing inflation. This was followed by the European Union on 6 October, which in its 8th round of sanctions agreed to put a price cap on Russian oil imports (for Europe and third countries) with a price maximum to be set on 5 December 2022. Several countries, including Hungary and Serbia gained major exemptions from the agreement. According to a US Treasury report published in May 2023 the sanctions were successful in achieving oil supply stability and reducing Russian tax revenue. In August 2023 the price of Russian oil exceeded the cap and reached $73.57 per barrel.

The detrimental effects on European countries from economic sanctions against Russia had been initially valued as insignificant compared to the impact these measures have on the Russian economy. However, after 2022, a number of economists have pointed out that Eastern European countries with more intense economic relations with Russia (and Ukraine) before the conflict, would experience more disruptions to their economies. These 'asymmetric effects' might be considerable, particularly for smaller countries with domestic production, as these international sanctions not only affected the energy industry but also agriculture and manufacturing. After the onset of the armed conflict in 2022, energy prices had skyrocketed, contributing to the 2021/2022 energy crisis. While those energy prices had fallen again in 2023 and shortages, particularly for LNG, had eased, other factors came into play, such as the serious disruption of grain exports through the Black Sea corridor, thus causing a glut of grain in Eastern Europe, depressing prices seriously and endangering the livelihood of local farmers in Poland, Hungary as well as Bulgaria.

In 2022, Turkish president Recep Tayyip Erdoğan said that Turkey could not join sanctions on Russia because of import dependency. Turkey imported almost half of its gas from Russia. Erdoğan and Russian president Vladimir Putin planned for Turkey to become an energy hub for all of Europe. According to Aura Săbăduș, a senior energy journalist focusing on the Black Sea region, "Turkey would accumulate gas from various producers — Russia, Iran and Azerbaijan, [liquefied natural gas] and its own Black Sea gas — and then whitewash it and relabel it as Turkish. European buyers wouldn't know the origin of the gas." For Turkey, the re-sale of Russian gas had been limited as it is practically impossible to re-configure gas flows with the European Union. Furthermore, gas supplies to Turkey are constrained as the TurkStream pipeline was running well below its 31.5 billion cubic meters (bcm) of annual capacity. China, however, has been a more likely candidate for such maneuvers. The PRC overtook Japan as the largest importer of LNG and already practiced such techniques of re-labelling Russian-sourced gas for export.

In March 2023, when the EU adopted new sanctions against Russia, Russian diamond exports to Europe and other nations remained unaffected. While calls from Ukrainian nationals and EU officials to strictly apply sanctions to Russian-sourced diamonds had been referred to the G7, such measures had only experienced weak support from European capitals. In June 2023, EU sanctions against Russian-based diamond exporters were announced, however, their efficacy remained doubtful. Similar to the export routes of other Russian commodities, evading such sanctions through diamond traders in India and other countries that do not impose direct sanction, are very likely.

According to experts, a "refining loophole" allows Russian oil to be transported to refineries in third countries (such as Turkey for example) to be turned into other products like diesel or petrol and re-rexported to Europe.

In July, Ukraine again stated that it would likely not renew the gas transit deal for Gazprom, which delivered natural gas directly to Western Europe across Ukraine. That deal ended in 2024 provided Kyiv about $7 billion per year for 40 billion cubic meters (bpm) of gas. Such a shut-off would forced Central European countries (including Austria, Slovakia, and partly Hungary) to seek gas resource elsewhere. At the same time, Gazprom chief Alexei Miller warned Naftogaz that Russia would do the same as a retribution for seizures of Russian state assets in Ukraine. Russian gas supplies to Europe were expected to drop to 10-16 bcm p.a.

In October, the Treasury Department's Office of Foreign Asset Control (OFAC) sanctioned two shipping companies for violating price cap sanctions on Russian crude exports as the start of a process to sanction crude oil sanction breakers.

In combination with the transition to renewable energy in Europe, European sanctions against Russian coal forced Russia to accelerate the shift of its coal exports to Asia. However, the limited capacity of the Trans-Siberian Railway remained a bottleneck for Russia's eastern reorientation.

In April 2024, the United States and the United Kingdom announced a ban on imports of aluminum, copper and nickel from Russia. Nickel is a critical metal in electric vehicle batteries, and palladium is critical element in catalytic converters, a component in natural gas vehicles. In May 2024, Biden signed legislation banning low-enriched uranium imports from Russia.

In June 2025, a majority of U.S. senators supported the Sanctioning Russia Act, which would impose secondary sanctions against Russia, including 500% tariffs on countries that buy Russian oil, natural gas, uranium, and other exports. China and India are the main consumers of Russian energy.

In July, U.S. president Donald Trump criticized India over its continued oil trade with Russia, despite ongoing Western sanctions. Announcing a 25% "reciprocal tariff" on Indian goods and additional penalties linked to India's purchase of Russian arms and energy, Trump also revealed a proposed trade and energy development agreement with Pakistan. These remarks and policy announcements were seen as a reaction to India's ongoing oil imports from Russia, which Trump suggested were indirectly funding the war in Ukraine. On 14 July 2025, Trump threatened to impose 100% tariffs and secondary sanctions on countries purchasing Russian oil if Russia did not agree to a ceasefire within 50 days.

On 22 October, the United States imposed sanctions on Russian energy companies Rosneft and Lukoil. The U.S. also threatened secondary sanctions against foreign financial institutions and companies that continue to do business with Rosneft and Lukoil, which would affect their customers in China and India.

Banking

In a 22 February 2022 speech, US president Joe Biden announced restrictions against four Russian banks, including V.E.B., as well as on corrupt billionaires close to Putin. UK prime minister Boris Johnson announced that all major Russian banks would have their assets frozen and be excluded from the UK financial system, and that some export licences to Russia would be suspended. He also introduced a deposit limit for Russian citizens in UK bank accounts, and froze the assets of over 100 additional individuals and entities.

Days later, and after substantial negotiation between European nations, an agreement was made to expel many Russian banks from the SWIFT international banking network.

On 26 February, two Chinese state banks—the Industrial and Commercial Bank of China, which is the largest bank in the world, and the Bank of China, which is the country's biggest currency trader—were limiting financing to purchase Russian raw materials, which was limiting Russian access to foreign currency. On 28 February, Switzerland froze a number of Russian assets and joined EU sanctions. According to Ignazio Cassis, the president of the Swiss Confederation, the decision was unprecedented but consistent with Swiss neutrality. The same day, Monaco adopted economic sanctions and procedures for freezing funds identical to those taken by most European states. Singapore became the first Southeast Asian country to impose sanctions on Russia by restricting banks and transactions linked to Russia; the move was described by the South China Morning Post as being "almost unprecedented". South Korea announced it would participate in the SWIFT ban against Russia, as well as announcing an export ban on strategic materials covered by the "Big 4" treaties to which Korea belongs—the Nuclear Suppliers Group, the Wassenaar Arrangement, the Australia Group, and the Missile Technology Control Regime; in addition, 57 non-strategic materials, including semiconductors, IT equipment, sensors, lasers, maritime equipment, and aerospace equipment, were planned to be included in the export ban "soon".

On 28 February, Japan announced that its central bank would join sanctions by limiting transactions with Russia's central bank, and would impose sanctions on Belarusian organisations and individuals, including President Aleksandr Lukashenko, because of Belarus' "evident involvement in the invasion" of Ukraine.

Sanctions against Russia already had a significant impact on global banks. Since the invasion in 2022, the value of EU imports from Russia fell by half to about 10 billion euros ($10.85bn) in December 2022. As a result, particularly European banks experienced a serious downturn that could be felt worldwide. As Russia slashed pipeline deliveries to Europe since the invasion, balance books of European financial entities were also affected. As other commodities imported from Russia, were also the target of sanctions, including diamonds, gold, and potash fertilizers, the impact of sanctions was again magnified. Additionally other imports from Russia that are subject to secondary sanctions do already decline before 2023, such as fuel for nuclear plants, before direct measures were implemented. According to the American Bankers Association, sanctions against Russia had increased operational risks for lenders worldwide, and will require additional changes to lower financial risks, according to the source.

Starting in late December 2023, the United States, under a Presidential Order amending Executive Order 14024, may issue secondary sanctions against financial institutions that provide support to Russia's defense industry. These sanctions could apply to banks worldwide and may include measures such as asset freezes or disconnection from the US financial system if they continue offering services to entities linked to Russia's military and industrial sector.

The affected include some of the "children of Russia", Spanish children who were evacuated to the Soviet Union during the Spanish Civil War (1936–1939). Some of them stayed and worked there for decades before returning to Spain and earned pensions that they have not being receiving since December 2024.

Russian frozen central bank assets

Main article: Confiscation of Russian central bank funds

Within days of the Russian invasion of Ukraine in February 2022 western countries moved to freeze Russian central bank funds in these countries. In March 2023 (prior to the destruction of the Kakhovka Dam) a joint assessment was released by the Government of Ukraine, the World Bank, the European Commission, and the United Nations, estimating the total cost of reconstruction and recovery in Ukraine to be US$411 billion (€383 billion). This could eventually exceed $1 trillion (€911 billion), depending on the course of the war. The Kyiv School of Economics has a project and website dedicated to detailing the damages the war has caused to Ukraine. The G7 countries plus the European Union announced in May 2023 that the approximately $300 billion (€275 billion) in Russian central bank assets that had been frozen in these countries would remain frozen "until Russia pays for the damage it has caused to Ukraine," and this was reaffirmed after the G7 meeting in December 2023. This constituted about half of the $612 billion (€560 billion) total foreign currency and gold reserves held at that time by the Russian central bank. By late July 2023, the amount of frozen Russian assets held in these countries was estimated at $335 billion (€300 billion). Most frozen assets, by far, reside in Europe ($217 billion (€201 billion) to $230 billion (€210 billion)), with the United States holding just a small portion ($5 billion (€4.5 billion)) and Japan also holding some. Josep Borrell, EU's foreign affairs chief, said he wants EU countries to confiscate the frozen assets to cover the costs of rebuilding Ukraine after the war. Russian Deputy Foreign Minister Alexander Grushko remarked that Borrell's initiative amounted to "complete lawlessness" and said it would hurt Europe if adopted. Russia has threatened to retaliate by confiscating assets owned by the EU. Austrian Foreign Minister Alexander Schallenberg warned that confiscation of Russian assets that does not have a "watertight" justification would be an "enormous setback, and basically a disgrace" for the EU.

With respect to confiscation of frozen Russian state assets, the difficult problem is how to do it without violating international treaties concerning the protection of cross-border investments, and without violating the principle that laws and regulations cannot be retroactive. Russia's rights also include those under sovereign immunity, which forbids one state from seizing another's property. Various methods have been proposed by experts in international law. A related issue concerns the annual profits from the investment of those assets, estimated to be at least €3 billion (US$3.4 billion). A "windfall profits tax" on those profits is being investigated.

In October 2024 the G7 countries finalized a plan to loan $50 billion (€47.5 billion) to Ukraine, backed by the more than $3 billion (€2.8 billion) in interest that is earned annually by the frozen assets. The United States will contribute $20 billion (€19 billion) of this, with the remainder coming from the European Union, Britain, Canada and Japan.

A labourer removes the sign from Gazprom's office in Vienna on 7 March 2022.

Restrictions on purchase and transfer of goods

The EU banned cars with Russian license plates from entering the EU, except for vehicles owned by EU citizens or their immediate family members. The ban on vehicles and some other goods was imposed shortly after the invasion; however, the enforcement was not uniform and some Russian citizens had their cars confiscated after they already were in the EU. The Russian Foreign Ministry claimed that this policy was motivated by "racism pure and simple" against Russians.

European impounding of ships

A 5 April 2022 article by Insider claims the total cost of yachts impounded throughout Europe to be over $2 billion. This amount includes the motoryacht Tango, seized pursuant to United States sanctions with Spanish assistance.

France

On 26 February, the French Navy intercepted Russian cargo ship Baltic Leader in the English Channel. The ship was suspected of belonging to a company targeted by the sanctions. The ship was escorted to the port of Boulogne-sur-Mer and was being investigated.

On 2 March, French customs officials seized the yacht Amore Vero at a shipyard in La Ciotat. The Amore Vero is believed to be owned by the sanctioned oligarch Igor Sechin.

Two yachts belonging to Alexei Kuzmichev of Alfa Bank were seized by France on 24 March.

Germany

On 2 March, German authorities immobilized the Dilbar, owned by Alisher Usmanov. She is reported to have cost $800 million, employ 84 full-time crew members, and contain the largest indoor swimming pool installed on a superyacht at 180 cubic metres.

Italy

On 4 March, Italian police impounded the yacht Lady M. Authorities believe the ship is owned by Alexei Mordashov. The same day, Italian police seized the yacht of Gennady Timchenko, the Lena, in the port city of Sanremo. The yacht was also placed on a United States sanctions list. On 12 March, Italian authorities in the port of Trieste seized the sailing yacht A, known to be owned by Andrey Melnichenko. A spokesperson for Melnichenko vowed to contest the seizure.

Spain

In March, the Spanish Ministry of Development (known by its acronym "MITMA") detained three yachts pending investigation into whether their true owners are individuals sanctioned by the European Union. The Valerie is detained in the Port of Barcelona; Lady Anastasia in Port Adriano in Calvià, Mallorca; and the Crescent in the Port of Tarragona.

United Kingdom

On 29 March, Grant Shapps, the British secretary of state for transport, announced the National Crime Agency's seizure of the PHI. The yacht was docked at Canary Wharf and was about to leave.

Netherlands

On 6 April, Dutch Minister of Foreign Affairs Wopke Hoekstra sent a letter on the subject of sanctions addressed to the House of Representatives. In it, he reported that while no Russian superyachts were at anchor in the Netherlands, twelve yachts under construction across five shipyards were immobilized to ascertain ownership, including possible beneficial ownership.

Lithuania

On 20 April 2023, Lithuanian parliament Seimas finalised and approved sanctions to all Russian and Belarusian citizens as a response to Russian invasion of Ukraine. From 1 May 2023, citizens of both countries are ineligible to obtain Lithuanian visas, e-resident status or exchange Ukrainian hryvnia. In addition, Russian citizens are also ineligible to submit request for permanent stay in Lithuania or purchase property within Lithuanian territory.

In September 2023, the Dutch shipyard Damen Group has initiated a lawsuit against the government of the Netherlands for losses inflicted by these measures. The cancellation of contracts from Russian clients had significantly impacted the business environment for many shipbuilders. The financial setbacks for that industry stems from the severance of ties with its Russian engineering branch, according to the statement.

Aviation

The EU sanctions introduced on 25 February 2022 included a ban on the sale of aircraft and spare parts, and also required lessors to terminate the leases on aircraft placed with Russian airlines by the end of March.

Turkish president Recep Tayyip Erdoğan and Russian president Vladimir Putin on 3 July 2024

Services and spare parts

On 2 March 2022, Airbus and Boeing both suspended maintenance support for Russian airlines. On 11 March, China blocked the supply of aircraft parts to Russia. Bombardier Aviation announced that, in addition to suspending after-sales service activities, it had cancelled all outstanding orders placed by Russian individuals or companies. As of April, spare part and repair difficulties for the Safran/Saturn SaM146 engines used on the Sukhoi Superjet 100 were expected to force Russian airlines to ground the type.^{[citation needed]} The lack of approved spare parts also affected foreign aircraft flying into Russian airports.

In June, the Russian government advised its airlines to use some aircraft for parts. That same month, Patrick Ky, executive director of the European Aviation Safety Agency (EASA), expressed concern about the safety of Western-made aircraft flying in Russia without proper access to spare parts or maintenance. He highlighted that risks increase over time and cited reports that Russia will be forced to cannibalise aircraft. In August 2022, Reuters reported confirmation from "four industry sources" that Russia had stripped parts from Airbus A320s and A350s, a Boeing 737 and a Sukhoi Superjet in order to perform maintenance on other aircraft. Around 15% of Aeroflot's fleet appeared to be grounded.

In April 2023, Aeroflot started sending its aircraft to Iran for maintenance, benefitting from Iran's experience in performing maintenance under sanctions. In May 2023, it was reported that Aeroflot flight attendants had been instructed not to log maintenance issues that would normally require aircraft to be grounded for repairs. In August 2023, it emerged that the airline was operating some of its fleet with disabled brakes, instead telling pilots to rely solely on reverse thrusters.

In June 2025, researchers from Finland concluded that Russia still managed to import some 4,000 shipments of Boeing and Airbus spare parts, while under sanctions by using subsidiaries in the United Arab Emirates, Turkey, China and Gabon. The investigators calculated the estimated value of the delivered parts to be around €1 billion.

Leased aircraft

On 10 March 2022, Russia passed legislation outlining conditions to impede the return of leased aircraft to foreign lessors, including the need for approval from a government committee and payment of settlements in Roubles.

Many aircraft operated by Russian airlines had been registered with the Bermuda registry, which suspended airworthiness approvals on 14 March. The same day, Russia implemented a law allowing aircraft operated by Russian airlines to be re-registered with the Russian registry, effectively confiscating them from their overseas owners. Some 515 commercial aircraft, valued at approximately $10 billion, were leased by Russian airlines from foreign lessors prior to the sanctions. Lessors moved swiftly to repossess those few aircraft "stranded" outside Russia and reassigned some new aircraft due to be placed with Russian airlines, particularly Boeing 737 MAX that are now unlikely to be recertified by Russia.

By 22 March 78 foreign-owned aircraft had been reclaimed, amid speculation that some Russian airlines were cooperating with lessors in order to avoid jeopardising future relations. Rossiya Airlines, a subsidiary of Aeroflot, had reregistered all its fleet with the Russian registry by 29 March.

By 30 March, Irish lessor AerCap had repossessed 22 of the 135 aircraft it had leased to Russian airlines, and 3 of the 14 engines on lease. It filed insurance claims totalling $3.5 billion for the remaining aircraft, many of which were "now being flown illegally by [its] former airline customers". Singapore-based lessor BOC Aviation had 18 aircraft worth $935 million on lease to Russian companies; it repossessed from Hong Kong one Boeing 747-8F leased to AirBridgeCargo but two other freighters were flown back to Russia contrary to explicit instructions, despite their insurance coverage and airworthiness certificates having been revoked.

On 31 March, Russian deputy prime minister Yury Borisov declared that all leased aircraft still in Russia had been re-registered and would remain in Russia, a total of over 400 aircraft. However, re-registration of aircraft without their owners' consent is a breach of ICAO standards. These aircraft may be confiscated and repossessed upon landing in any airport outside of Russia.

Aeroflot gradually resumed international flights to "friendly" countries: to Kyrgyzstan from 14 March, Azerbaijan on 21 March, Armenia from 22 March, Iran from 2 April, Sri Lanka from 8 April, and Turkey and India from 6 May. On 2 June, an Aeroflot A330 belonging to an Irish lessor was temporarily impounded by a commercial court in Sri Lanka, though the aircraft was subsequently allowed to return to Russia on 5 June.

On 13 May, Aeroflot announced that it had purchased 8 A330s from foreign leasing companies, under an exemption that allows the execution of a lease solely to obtain repayments. On 1 June, it emerged that five Russian airlines had kept a total of 31 aircraft outside Russia and returned them to lessors. Other airlines including Aeroflot have deposited money in special Rouble accounts to enable lessors to claim the amounts once sanctions are lifted. In August, S7 Airlines was given special permission to "export" its two 737 MAX aircraft to Turkey in order to return them to their lessor.

Airspace

On 24 February 2022, Ukrainian airspace was closed to civilian aircraft a few hours before the Russian invasion started, on the basis of a notification from the Russian Ministry of Defence. The European regulator EASA issued a Conflict Zone Information Bulletin (CZIB) warning that civilian aircraft could be misidentified or even directly targeted.^{[citation needed]}

On 25 February, the UK announced the closure of its airspace to Russian airlines. On 27 February, the EU and Canada closed their airspace to all Russian aircraft, including both commercial and private aircraft. Russia issued a reciprocal ban, forcing many airlines to reroute or cancel flights to Asian destinations. The US issued a similar ban on 1 March. On 8 March, Aeroflot suspended all its remaining flights to international destinations (except for Minsk, Belarus) due to airspace restrictions and to counter the "risk" of aircraft being repossessed by lessors. On 9 March, to avoid Russian airspace, Finnair started routing its flights to Asia over the North Pole, the first time a polar route has been used for commercial flights in nearly 30 years. An analysis of routes between Europe and Asia showed increased travel distances of between 1200 and 4000 km; the frequency of flights to some destinations has been reduced and other routes have been dropped.

By 29 March 2022, the following countries and territories had completely closed their airspace to all Russian airlines and Russian-registered private jets:

Albania
Anguilla
Aruba
Bermuda
Bonaire
British Virgin Islands
Canada
Cayman Islands
Faroe Islands
Gibraltar
Greenland
Iceland
Kosovo
Moldova
Montenegro
Montserrat
North Macedonia
Norway
Saba
Saint Helena
Sint Eustatius
Sint Maarten
Switzerland (with exceptions for diplomats and United Nations representatives)
Turks and Caicos Islands
Ukraine (since 2015)
United Kingdom
United States

European Union (EU27)

In addition to airspace closure under sanctions, on 11 April EASA blacklisted 21 Russian airlines on safety grounds, given that aircraft are being operated without airworthiness certificates, in breach of the Chicago Convention and international safety standards. EASA clarified that the Russian air transport regulator, Rosaviatsia, had failed to provide evidence that it has the capacity to perform the oversight activities required to ensure air safety. The US Federal Aviation Administration also downgraded Russia's safety rating, meaning that no new services to the US and no codeshares with US carriers are authorised.

In May 2022, the UK announced that Russian airlines would be prohibited from selling their landing slots at UK airports, valued at approximately £50 million. The slots were subsequently reallocated to other airlines.

At the end of May, the Civil Aviation Administration of China (CAAC) closed its airspace to aircraft that have been re-registered with the Russian registry in breach of ICAO regulations and for which the airlines are thus unable to provide proper documentation.

Russian aircraft manufacturing industry

Putin with Indian prime minister Narendra Modi and Chinese president Xi Jinping at the 16th BRICS summit in Kazan, Russia, 23 October 2024

EASA revoked the type certificates of the Sukhoi Superjet 100, Tupolev Tu-204 and four other Russian aircraft types on 14 March, as well as approvals of maintenance organisations and third-country authorisations for Russian airlines. EASA also suspended all work on new certification applications, including the Irkut MC-21 airliner. Due to the need to source all aircraft components domestically, notably the Pratt & Whitney PW1400G engines which will be replaced by Russian-built Aviadvigatel PD-14 units, production of the MC-21 is expected to be delayed by 2 years. In the meantime, production of older and less fuel-efficient Russian-built aircraft such as the Tupolev Tu-214 and Ilyushin Il-96-400 will be stepped up, and a fuel subsidy introduced. The Sino-Russian CR929 wide-body aircraft programme, which was already in difficulty due to the diverging expectations of the two parties, is also expected to suffer significant delays or even cancellation.

On 29 June, the US government expanded its sanctions to cover United Aircraft Corporation (UAC) (the parent company of Irkut, United Engine, Tupolev, Ilyushin and others), with an exemption allowing UAC to export parts and services for civil aircraft not registered in Russia if necessary for aviation safety.

Aviation industry organisations and alliances

On 15 March, Aeroflot CEO Mikhail Poluboyarinov, who is targeted with EU sanctions, was removed from the IATA board of governors.

In April, the two Russian airlines that were members of global airline alliances both saw their memberships suspended: S7 Airlines from Oneworld and Aeroflot from SkyTeam.

U.S. "freeze and seize" policy

The main United States sanctions law, IEEPA, blocks the designated person or entity's assets, and also prohibits any United States person from transacting business with the designated person or entity. Specifically, 50 U.S.C. § 1705 criminalizes activities that "violate, attempt to violate, conspire to violate, or cause a violation of any license, order, regulation, or prohibition", and allows for fines up to $1,000,000, imprisonment up to 20 years, or both. Additionally, United States asset forfeiture laws allow for the seizure of assets considered to be the proceeds of criminal activity.

On 3 February 2022, John "Jack" Hanick was arrested in London for violating the sanctions against Konstantin Malofeev, owner of Tsargrad TV. Malofeev is targeted with sanctions by the European Union and United States for material and financial support to Donbas separatists. Hanick was the first person criminally indicted for violating United States sanctions during the War in Ukraine.

According to court records, Hanick has been under sealed indictment in the United States District Court for the Southern District of New York since November 2021. The indictment was unsealed 3 March 2022. Hanick awaits extradition from the United Kingdom to the United States.

In the 1 March State of the Union Address, American President Joe Biden announced an effort to target the wealth of Russian oligarchs.

Tonight, I say to the Russian oligarchs and the corrupt leaders who've bilked billions of dollars off this violent regime: No more.

The United States — I mean it. The United States Department of Justice is assembling a dedicated task force to go after the crimes of the Russian oligarchs.

We're joining with European Allies to find and seize their yachts, their luxury apartments, their private jets. We're coming for your ill-begotten gains.

On 2 March, U.S. Attorney General Merrick B. Garland announced the formation of Task Force KleptoCapture, an inter-agency effort.

On 11 March, United States President Joseph R. Biden signed Executive Order (https://en.wikisource.org/wiki/Executive%20Order%2014068), "Prohibiting Certain Imports, Exports, and New Investment With Respect to Continued Russian Federation Aggression," an order of economic sanctions under the United States International Emergency Economic Powers Act against several oligarchs. The order targeted two properties of Viktor Vekselberg worth an estimated $180 million: an Airbus A319-115 jet and the motoryacht Tango. Estimates of the value of the Tango range from $90 million (U.S. Department of Justice estimate) to $120 million (from the website Superyachtfan.com).

On 4 April, the yacht was seized by Civil Guard of Spain and U.S. federal agents in Mallorca. A United States Department of Justice press release states that the seizure of the Tango was by request of Task Force KleptoCapture, an interagency task force operated through the U.S. Deputy Attorney General.

The matter is pending in the United States District Court for the District of Columbia. The affidavit for the seizure warrant states that the yacht is seized on probable cause to suspect violations of 18 U.S.C. § 1349 (conspiracy to commit bank fraud), 50 U.S.C. § 1705 (International Emergency Economic Powers Act), and 18 U.S.C. § 1956 (money laundering), and as authorized by American statutes on civil and criminal asset forfeiture.

The increased US sanctions against Russia, aimed at the companies and individuals based in Turkey, China and the UAE for supplying the military purposes goods to Moscow. On 2 November 2023, the US Treasury Department said new sanctions include more restrictions on Russia energy and mining industry. The US sanctioned the UAE's ARX Financial Engineering and four of its employees for assisting transfer of Russian assets to the Emirates and for providing alternatives to sanctioned-hit Russian bank VTB in converting roubles into US dollars.

Defense sector

Following the 2022 invasion, sanctions were imposed on various entities in the Arms industry of Russia, which supply the Russian Armed Forces with equipment as well as sanctions on financial entities which support the arms industry. The sanctions in the defense industry includes not only entities which provide pure military equipment but also dual-use products such as electronics, high-computing and avionics, machine-building and other products which can be used for military purposes. On 22 December 2023, President Biden expanded the prerogatives of the Treasury to sanction financial entities which help the Russian arms industry.

Science

Shortly after the invasion, the European Commission, followed by the United States, decided to suspend cooperation with Russian entities in research, science and innovation. With the adoption of the fifth package of sanctions against Russia on 8 April 2022, the participations of all Russian public bodies or public-related entities in ongoing Horizon Europe projects were terminated, though the science community remains divided over the justification for science sanctions. Russian scientists are impacted by the sanctions —irrespective of the individual scientists' attitudes towards the war. Among other effects, the sanctions hinder scientific cooperation in the Arctic. More generally, the sanctions have had stark effects on Russian participation in global scientific exchange and collaboration, a concern pointed out by the International Union of Pure and Applied Physics and researchers in international particle physics community in particular.

Other entities

On 9 March 2022, the New Zealand Parliament passed the Russia Sanctions Act 2022, which allows for sanctions to be placed on individuals connected to the 2022 Russian invasion of Ukraine and targets their assets including funds, ships, and planes. New Zealand also created a blacklist targeting senior Russian officials and oligarchs. On 6 April, New Zealand also imposed a 35% tariff on Russian products while restricting industrial exports to Russia.

The Bahamas, Antigua and Barbuda and Saint Kitts and Nevis also joined the list of imposing sanctions on Russia.

On 2 May, Finnish consortium Fennovoima announced that it had terminated its contract with Russia's state-owned nuclear power supplier Rosatom for the delivery of a planned nuclear power plant in Finland.

Main articles:

Shifting of safe havens and sanctions evasion

Andorra

On 24 March 2022, Andorra put rules in place to stop banking deals by people and groups from Russia and Belarus. Many were blocked, and trading certain financial items was stopped. Andorran people could not borrow from banks or public groups in these countries. Trading with Russia and Belarus using public money was banned, and Russians could not put new money into Andorra if it was more than €100,000. Andorra followed the same rules as the European Union. The government added more people to their sanction list on 4 May 2022.

Switzerland

UAE's President Mohamed bin Zayed Al Nahyan with Russian president Vladimir Putin, days after OPEC+ cut oil production, 11 October 2022

Switzerland follows the same sanctions rules as the European Union. Because of this, Russia called Switzerland an "unfriendly nation." Many rich Russians have kept their money in Swiss banks. Some estimates say Swiss banks hold a lot of Russian money, though the exact amount is not clear. By July 2022, Swiss authorities had frozen a big amount of money belonging to Russians. The sanctions were aimed at many people and companies linked to the European Union's decisions.

Some critics said Switzerland could do more, but the Swiss government said they follow all EU rules. In May 2022, Switzerland agreed to new rules to stop Russian gold from being traded. In September 2022, Switzerland stopped sharing tax information with Russia. In July 2023, talks were held to make sure Swiss companies were not helping Russia avoid sanctions, especially with oil and energy deals.

United Arab Emirates

Many rich Russians moved their money to the United Arab Emirates (UAE) because of flexible rules there. In early 2022, many Russians bought homes in Dubai, and some private planes and ships linked to rich Russians were seen there. The UAE says it follows international rules but has not added its own sanctions against Russia.

Russian commodities traders relocated from Switzerland to Dubai.

In May 2022, some European leaders suggested the UAE should be listed for letting Russians avoid sanctions. Some very expensive ships and planes linked to Russians were found in the UAE. In 2023, there were concerns that the UAE helped Russia get technology and parts that were banned. The UAE said it was neutral and followed United Nations rules.

United Kingdom

By May 2023, 127 British companies said they had broken rules meant to stop helping Russia's economy. In late 2023, Britain added more people and companies to its sanction list, including some linked to gold trading. Britain continues to enforce these rules to stop money from helping Russia.

United States of America

In 2022 and 2023, some American oil service companies kept working with Russia, even though many others stopped. These companies made more money because European companies left the market. The United States leads in pushing for sanctions to reduce Russia's money from oil and gas. Some American oil companies said they had fewer workers in Russia but that changes in the market affected their earnings.

Effects on Russian economy

In April 2022, Russia supplied much of the EU's gas imports, earning a large amount of money each day. In the first two months after the invasion of Ukraine, Russia earned a significant amount from selling fossil fuels, with the EU being a major buyer.

Putin's national security adviser Nikolai Patrushev downplayed the sanctions, saying that "Russia is reorienting itself away from the European market to the African, Asian and Latin American markets".

The Russian money system faced challenges, but Russia found ways to continue its operations. Despite predictions of economic trouble, Russia managed to avoid serious financial issues. However, there were concerns about long-term problems, especially if Western countries continued their sanctions.

Russia's economy shrank in 2022, but not as much as some expected. The country faced difficulties, including reduced trade with Western Europe, but also saw increases in trade with China. Russia also focused on increasing its gold reserves as a way to support its economy.

In 2023, many companies did not leave Russia, and the country's car production fell significantly. Despite these challenges, Russia continued to shift its energy exports to countries like China and India. The Russian economy showed some resilience, but faced ongoing issues with inflation and currency value.

In 2024, Russia explored new financial systems to bypass sanctions and increased its dependence on China, though faced challenges in trading with Chinese banks. Russian companies also looked for ways to avoid sanctions by moving operations and changing how they sold their products.

Collateral damage for individuals using Russian securities market infrastructure in Russia and abroad

Because of sanctions placed on Russian financial institutions, many investors lost access to their investments. These sanctions stopped investors from moving or getting money from their investments held in places like Euroclear and Clearstream.

Some investors found a way to sell their investments through a special rule set by the President of the Russian Federation, but this only worked for certain people and amounts. Many others still could not get their money back. The process to unlock these investments was very expensive and slow, making it hard for many small investors to recover what they lost.

Effect on global food supply

Further information: 2022–2023 food crises

When Russia started its invasion of Ukraine, fighting near important ports like Odesa made it hard for Ukraine to send out its wheat. Russia said that sanctions from Western countries were stopping them from exporting their own wheat. Leaders from both sides talked about how to solve these problems.

Later, Russia agreed to let grain ships leave Ukraine through the Black Sea. This helped many countries get the food they needed. But as the war continued, it still caused problems for food prices around the world, especially in places like North Africa. Talks are ongoing to find ways to keep food moving even while the war goes on.