report from Castellum.ai, a global sanctions-tracking database. Russia has now become the target of nearly 3,000 new sanctions after dozens of nations condemned President Vladimir Putin’s attempts to overthrow the Ukrainian government.
With the combination of sanctions against Russia that had already been put in place before the invasion as well as the latest penalties, Russia has racked up a historic 5,532 sanctions.Russian sanctions even surpassed Iran who faces over 3,600 sanctions mostly for its continued efforts to manufacture a nuclear program as well as its financial support of well-known terrorist organizations.
The United States and its allies have retaliated against Russia with a series of financial penalties, reflecting a massive change in how conflicts can be waged in a world that is globalized, digital and highly dependent on accessing money electronically.There have been economic targets in the past that depended on military maneuvers such as factory bombings, blockades and the capture of strategic resources.
But the waves of sanctions unleashed over the past several weeks have demonstrated how financial markets can respond faster than setting up conventional weapons.The sanctions also are a substitute for direct military action against Russia by the U.S.