Russia's war on Ukraine: A sanctions timeline

Chad P. Bown (PIIE)

May 20, 2022 10:30 AM

This post, originally published on March 14, 2022, will be updated as sanctions evolve in response to Russia’s invasion of Ukraine. Thanks to Martin Chorzempa, Jeffrey J. Schott, Gary Clyde Hufbauer, Jacob Funk Kirkegaard, Takeshi Tashiro, Nicolas Véron, Yilin Wang, and numerous other colleagues for contributions. Graphic design and production by Nia Kitchin, Melina Kolb, and Oliver Ward.

Russia's military assault on Ukraine has prompted other countries to impose an extraordinary set of coordinated economic sanctions against Russia. The measures aim to limit customary trade and financial relations with Russia, penalize Russian oligarchs for supporting President Vladimir Putin and potentially cripple Russia's economy, all in hopes of first deterring Putin from engaging in and then continuing acts of war. But the breadth and severity of these actions vary greatly, and their full effects on the Russian economy are still unfolding, as are the related implications for economic activity in other countries.

This page tracks economic sanctions by the United States, European Union, United Kingdom, and other major economies, providing notable details about their execution and context with wartime events, also with links provided to formal government actions and PIIE analysis. These include sanctions against Russia as well as against Belarus for facilitating and supporting Russia’s actions in war. The timeline also includes Russia’s counter-sanctions and certain major economies’ announcements not to sanction Russia.

More From

Chad P. Bown Senior Research Staff

More on This Topic

RealTime Economic Issues Watch

Steven Fries (PIIE)

April 28, 2022
RealTime Economic Issues Watch

Joshua Kirschenbaum* and Nicolas Véron (PIIE)

April 15, 2022
March 29, 2022
via Project Syndicate