After Russia's latest invasion of sovereign Ukrainian territory in the Donbas region, the U.S. and its European allies and partners imposed a first series of sanctions on thug Putin's Russia, holding more severe sanctions in abeyance if Russia continues. The Associated Press reports that the international community is being urged to condemn Russia and support Ukraine's independence:
"At the United Nations, Secretary-General Antonio Guterres said the world is facing 'the biggest global peace and security crisis in recent years.' He called Russia’s declaration of the 'so-called `independence’ of separatist areas in eastern Ukraine a violation of its territorial integrity and accused Moscow of 'the perversion of the concept of peacekeeping.'
He urged the international community to rally 'to save the people of Ukraine and beyond from the scourge of war' without further bloodshed.' (our emphasis)
Two of our strongest Asian Pacific allies have also imposed an array of sanctions on the Russian regime:
"Australian Prime Minister Scott Morrison [announced] targeted financial sanctions and travel bans as a first step in response to Russian aggression toward Ukraine.
In Japan, Prime Minister Fumio Kishida announced sanctions targeting Russia and the two separatist Ukrainian regions. Kishida told reporters that Tokyo will ban any new issuance and distribution of Russian government bonds in Japan because of “a series of actions Russia has been taking in Ukraine.” Kishida said Japan will also stop issuing visas to people linked to the two Ukrainian rebel regions and will freeze their assets in Japan."
The National Post of Canada reports that Prime Minister Justin Trudeau's government is imposing similar sanctions on Russian institutions and individuals:
"Trudeau said Canada would ban Canadians 'from all financial dealings' with the two breakaway regions in Ukraine, and from purchasing 'Russian sovereign debt.' Canada will also sanction 'members of the Russian parliament who voted for the illegal decision to recognize these so-called republics,' and impose additional sanctions on two 'state-backed Russian banks and prevent any financial dealings with them.'”
Putin may not feel the bite of the sanctions personally in the short term, given his insularity and extreme wealth that he's stolen from his country. Those elites around him and his military and banking institutions will feel the bite first, followed by average Russians if the sanctions expand. It would be a beautifully ironic outcome to this crisis if it hastened the demise of Russia's corrupt oligarchs and of Putin's regime, like another "Maidan revolution" that deposed his Ukrainian puppet in 2014.
