The Ukraine-Russia crisis: new economic and financial sanctions against Russia

Vladimir Putin on Monday ordered his army to enter the separatist territories of eastern Ukraine after recognizing their independence, a decision that could lead to war with Kiev.

Two decrees by the Russian president, signed after a televised address, recognize the “People’s Republics” of Donetsk and Lugansk and call on the Ministry of Defense to “carry out peacekeeping operations in Russia.” No details of this military deployment or timetable have been provided in these documents.

Following Putin’s escalation, Kiev is calling for Moscow to be punished

Ukraine on Tuesday called for severe retaliation against Russia in the West, pending the extent of the military operation ordered by Vladimir Putin, following the recognition of the independence of separatists from the United States. Is Ukrainian by Moscow.

Ukrainian President Volodymyr Zelensky on the night of February 21-22 condemned Russia’s decision to recognize the independence of the Donetsk and Lugansk republics, calling the decision a “violation of sovereignty and territorial integrity.” his country. The head of state also called on his Western partners for “clear” and “effective” support. “It’s very important to see who our true friend is now,” he said.

In an address to the nation broadcast on Ukrainian television, Volodymyr Zelensky accused Moscow of undermining diplomatic efforts to end fighting with separatists in the Donbass, claiming that the decision of his counterpart Vladimir Putin violates negotiated agreements in Minsk in 2015. He also assured that Kiev would not cede “a plot” of the country and was not afraid of “anything or anyone”.

“We see clearly the provocations and the offensive of the aggressor’s troops. The truth is on our side. And we will never hide the truth from you. As soon as we see a change in the situation, as soon as we see an increase in risk, you will be kept informed, ”Volodymyr Zelensky told his compatriots, adding that there was“ no reason to act chaotically. ».

Russia says it is “open” to diplomacy

The Kremlin said it was “open” to diplomacy with the West on Tuesday, following Moscow’s recognition of pro-Russian Ukrainian separatist regions, which was strongly denounced by Kiev and its Western allies.

“Russia remains open to diplomatic contacts at all levels, the Russian side is interested,” Kremlin spokesman Dmitry Peskov told reporters, adding that “contacts at the highest level, even those of ‘urgency, must be well prepared’.

The Kremlin spokesman said on Tuesday that Kiev’s severance of diplomatic relations with Russia would “only make matters worse”. “This is a scenario that would be extremely unfortunate, which would only make everything worse, not only for the states but also for the people,” said Dmitry Peskov.

Russian President Vladimir Putin said on Tuesday that he did not intend to rebuild an empire, following the recognition of pro-Russian separatists in Ukraine and a speech denying the legitimacy of the Ukrainian state. “We had predicted that there would be speculation that Russia was preparing to rebuild an empire,” he said during a meeting in the Kremlin with his Azerbaijani counterpart Ilham Aliyev. “It’s not the reality at all.”

“Massive and robust” economic and financial sanctions against Russia

In Washington on Monday, Joe Biden issued a decree banning any new investment, exchange or financing by U.S. people to, from, or in separatist areas, a minimum package. The White House has promised “new sanctions” for Tuesday.

The EU on Tuesday proposed banning Russian authorities from accessing European markets and financial services and targeting banks financing Russian military operations in Ukraine’s separatist regions, which Moscow has recognized as independent, according to a statement from Russia. European Commission and Council.

The two institutions are also in favor of sanctioning “those involved” in this “illegal and unacceptable” recognition, and of targeting trade between the two separatist entities and the EU. These proposed sanctions will be submitted to European Foreign Ministers meeting in Paris on Tuesday.

Britain will announce on Tuesday “a first series” of economic sanctions that will “hit Russia very hard”, said its Prime Minister, Boris Johnson. Moscow has so far brushed off criticism and threats of Western punitive measures.

“By denying Ukraine’s legitimacy as a state and presenting its very existence as a threat to Russia, Putin is establishing a pretext for a major offensive,” Boris Johnson told parliament, announcing sanctions against Russia.

The billionaires targeted are Gennady Timchenko, Boris Rotenberg and his nephew Igor Rotenberg and five Russian banks in reaction to Moscow’s recognition of separatist regions in eastern Ukraine, Prime Minister Boris Johnson told parliament, warning to hold ” other sanctions ready to be introduced with the United States and the European Union if the escalation continues.

Calls for sanctions have also multiplied within the European Union, particularly in France, Latvia and Estonia, but also in Australia and Japan.

The Federal Department of Foreign Affairs (FDFA) called the press on Tuesday afternoon to provide an update on the situation in Ukraine. Through State Secretary Livia Leu, the FDFA repeated that it condemned Russia’s recognition of the self-proclaimed “republics” of Donetsk and Luhansk announced Monday evening by Vladimir Putin. On the sanctions side, Switzerland maintains its position of neutrality and observes the development of the situation before taking a decision.

We also learned that currently 296 Swiss citizens are registered with the embassy in Kiev. The FDFA is unable to say how many are actually in the country. Livia Leu also clarified that the meeting between US Secretary of State Antony Blinken and his Russian counterpart Sergey Lavrov scheduled for Thursday in Geneva was, to her knowledge, maintained.

NATO announced an emergency meeting of the ambassadors of the 30 member countries of the Alliance with the representative of Ukraine on Tuesday, after the recognition by Moscow of separatist regions in the east of this country.

NATO Secretary General Jens Stoltenberg will hold a press briefing “at NATO headquarters, following an extraordinary meeting of the NATO-Ukraine Commission,” the Alliance said.

The twenty-seven member states of the European Union (EU) on Tuesday approved a “sanctions package” “unanimously” against Russia after its decision to recognize separatist territories in eastern Ukraine.

“We agreed on a first package of sanctions unanimously,” announced the head of French diplomacy Jean-Yves Le Drian after the meeting of 27 foreign ministers in Paris. These sanctions “will hurt Russia very badly”, added the head of EU diplomacy, Josep Borrell.

“Sanctions do not have miraculous effects. But the sanctions, it hurts economically and it hurts the people affected”, argued Josep Borrell, stressing that the member countries of the EU had decided to keep “other ammunition (…) for to respond to new actions from Russia’, because ‘the story is not over’.

On Tuesday, German Chancellor Olaf Scholz announced that his country would not validate the authorization of the controversial Nord Stream 2 gas pipeline, in reaction to Russia’s recognition of the separatists.

German Chancellor Olaf Scholz announced Tuesday to suspend the authorization of the controversial Nord Stream 2 gas pipeline linking Russia to Germany, after Moscow’s recognition of the independence of pro-Russian Ukrainian provinces, and threatened “other sanctions”.

“Without this certification, Nord Stream 2 cannot be put into service,” Olaf Scholz told a press conference in Berlin with Irish Prime Minister Micheal Martin, adding that the file would be “re-examined” by the government. German.

“I asked the Ministry of the Economy” and the federal project certification agency to suspend their certification work, said Olaf Scholz. “We will not be able to accept recognition (of the pro-Russian provinces), which is why it is so important to react now and quickly,” he argued.

Now, Berlin is taking a further step by suspending the procedure and re-examining the file in the light of the latest developments in Ukraine. Nord Stream 2 connects the two countries via a 1,230 kilometer tube under the Baltic Sea with a capacity of 55 billion m3 of gas per year, on the same route as its twin Nord Stream 1, operational since 2012. Bypassing Ukraine , the route will increase the possibilities of Russian gas delivery to Europe.

The presidents, prime ministers or ministers of the eleven member countries of the Forum of Gas Exporting Countries (GEPF) met in Doha, while the crisis between Moscow and the countries markets is contributing to a surge in prices in this sector, where Russia poses a threat to supplies.

Donald Trump on Tuesday castigated his successor Joe Biden’s handling of the crisis in Ukraine, praising his closeness to Vladimir Putin and assuring that the Russian president would “never” have acted like this under his administration.

“If handled properly, there was absolutely no reason for the situation unfolding in Ukraine to take place at all,” the former US president said in a statement.

The Republican billionaire also described as “weak” the sanctions adopted for the moment by the Biden administration. “They are insignificant compared to the capture of a country and strategically located lands,” accused the former leader. “Not only is Putin getting what he always wanted, but he is getting richer and richer thanks to the boom in oil and gas,” he added.

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Gabriel MIHAI

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