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, certain major economies’ announcements not to sanction Russia, and trade actions that advantage countries involved in the war.
The data underlying this analysis are available here.
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.