On Feb. 24, the Russian government invaded neighboring Ukraine. As of the publishing of this article, the Russian forces have not yet captured Kyiv (March 9), the capital of Ukraine. Governments, humanitarian aid groups and companies around the world have taken action to support Ukraine either directly, or by sanctioning Russia.
An article by The Washington Post, posted Feb. 26, cited that Russian banks were kicked out of SWIFT international banking system, limiting their access to the dollar market and creating financial instability within their nation. Germany has halted construction of the Nord Stream 2 pipeline to Russia, causing fear among major Russian fuel exporters (reported by Energy Live News).
According to another article by The Hill, Giant oil companies BP and Shell are ditching shares in Russian government-owned fuel companies. Credit card companies Visa and Mastercard have blocked Russian banks from their networks. Apple has halted all sales in Russia.
Elon Musk has sent Starlink satellite internet terminals to Ukraine to keep communications online, mentioned an article published by Bloomberg. The United Nations, Red Cross and countless small non-profits are raising money and delivering humanitarian aid to Ukraine.
In a historic move, Switzerland has frozen the assets of several Russian oligarchs, including Russian President Vladimir Putin.
New Zealand has halted all exports to Russian military and security forces. The United States blocked 13 major state-owned Russian companies from raising money in here, including energy giant Gazprom and Sberbank, Russia’s largest financial institution.
Three Russian banks in the United Kingdom—Otkritie, Sovcombank and VEB—will have their UK assets frozen (reported by CCN).
There has been an overwhelming response across the globe to condemn Russia’s attack on Ukraine with only a few exceptions, including Belarus and Venezuela. Between international economic pressure and massive protests from within, Russia is facing pressure to back off of Ukraine. Only time will tell how they respond.
