On 24 February, the US announced that it would impose financial sanctions against Russia. This was effective from 24 February. Allies of the G7 include the United States and CanadaAustraliaUnited Kingdom, and the European Union. Russia will be impacted by the restrictions imposed on G7 countries, which are economically advanced.

The White House announced it would not require licensing from the United States for countries Who are The Allies 2022 that impose similar sanctions.

Financial sanctions:

  1. Russian stock markets fell as a result of the sanctions.
  2. Russia’s slow economic growth is a major problem.
  3. Russia has experienced a significant increase in its borrowing costs.
  4. Inflation in Russia has increased.
  5. Capital outflows increase.
  6. Russia’s industrial development is slowly being repressed.
  7. Restrict Sberbank transactions in USD for its 25 subsidiaries
  8. VTB Bank and its 20 affiliates are prohibited from accessing US financial services and US personnel in order to deal with VTB bank.
  9. Bank otkritie and sovcombank Ojsc and novikombank, along with their 34 subsidiaries, will also be subject to restrictions. This includes the freezing of institutional assets in American Allies.
  10. Thirteen Russian entities and enterprises with assets of approximately $1.4 trillion will be limited in their ability to raise money via the US markets.
  11. Russia’s elite families that support Putin are subject to sanctions.
  12. To withdraw support for Russia’s aggression in Ukraine, sanctions were imposed on Belarus banks, military, entities and officials.

New Zealand:

New Zealand announced on 25 February that it had placed travel bans on Russian officials. New Zealand will ban exports to Russia and suspend foreign ministry consultations.


Australia is currently approving similar sanctions to the US. The details of the sanctions are still to be determined.

The European Union Countries Who Are The Us Allies in 2022:

Germany, France and Italy will all freeze assets of Russia’s central bank (approximately US$600 billion) and prevent Russian financial institutions accessing SWIFT.

Private jets and airlines from Belarus will not fly to the European Union. Germany has revoked Nord Stream 2 approval of the gas pipeline.

The UK:

The UK has placed financial and export restrictions on Russia, and banned Russian airlines from using British airspace.


Japan announced on 25 February that it had placed financial restrictions against Russian banks and financial institutions. Japan, Who Are The Allies With 2022has ceased issuing visas for Russians. Japan will ban the export of chips and semiconductors to Russia and restrict Russian military exports.


Canada also prohibits the export, shipment, supply, and sale of goods in Schedule 4 to Russia (or any other individual in Russia).


The US warned Russia that it would impose severe sanctions on Russia if Russia doesn’t stop its war against Ukraine. The sanctions don’t seem to have any effect on Putin’s decision-making. Putin signed papers recognising LNR, and DNR independent countries one day after the Olympic Games ended in China. He then invaded Ukraine.