‘Russia will pay’: Sanctions tighten as Ukraine invasion looms

Feb 23, 2022 | Headlines, News

As tensions in Ukraine continue to rise, Japan and Australia have joined the United States and the United Kingdom in placing sanctions against Russia.

The sanctions come as a means to halt Russian forces from further invading the country which Russian President Vladimir Putin has repeatedly threatened over the last several weeks.

Members of Russia’s Security Council are “behaving like thugs and bullies,” Australia’s Prime Minister Scott Morrison said.

“These are the actions of a Russian government – an autocratic, authoritarian government – that’s forgotten what democracy is and what liberal democracy is,” Morrison said at a media briefing.

“This invasion is unjustified, it’s unwarranted, it’s unprovoked and it’s unacceptable,” he said.

Morrison acknowledged that Australia did not have the same extent of business with Russia when compared to the U.S., but still wanted to contribute in any way in order to prevent conflict.

Australia’s sanctions include targeting eight members of the Russian Federation security council, which is chaired by Putin and 12 other members. These members will be hit with travel bans to Australia as well as financial sanctions.

Japanese Prime Minister Fumio Kishida also announced Tuesday that his country would be banning the issuance of Russian bonds in Japan and freezing the assets of certain Russian individuals.

Kishida also announced that travel to Japan from Russia would be restricted.

The sanctions from Australia and Japan come after the U.K. announced their own course of strict action against Russia, specifically targeting banks.

“We will not give up,” Prime Minister Boris Johnson said in the House of Commons.

“We will continue to seek a diplomatic solution until the last possible moment but we have to face the possibility that none of our messages have been heeded and that Putin is implacably determined to go further in subjugating and tormenting Ukraine.”

U.S. President Joe Biden also took aim at Putin announcing sanctions that specifically targeted VEB (Russia’s state development bank), a Russian military bank, the country’s debt as well as five Russian elites as well as their families.

By targeting the military bank, it weakens Russia’s ability to protect power outside of the country. As of Tuesday, they have been cut off from the U.S. financial system and their assets have been frozen.

“Russia will pay,” Biden said.

As world leaders continue to move in aiding Ukraine, the country has enacted their own safety measures.

Early Wednesday morning, Ukraine declared a state of emergency lasting for the next 30 days with the option to be extended for another month.

The state of emergency would give powers to Ukrainian authorities who can then choose which ones to implement.

“These are preventive measures to keep calm in the country, so that our economy and our country can work,” Ukrainian security official Oleksiy Danilov said in a briefing.