TOKYO
Twenty million dollars in U.N. humanitarian funds, and a planned infusion of 1.5 billion euros ($1.68 billion) in EU economic aid for Ukraine. A raft of new, stronger sanctions against Russia from Japan, Europe, Australia, Taiwan and others. And a cascade of condemnation from the highest levels.
As Russian bombs and troops pounded Ukraine during the invasion’s first full day, world leaders on Friday began to fine-tune a response meant to punish the Russian economy and its leaders, including President Vladimir Putin’s inner circle.
While there’s an acute awareness that a military intervention is unlikely, for now, the strength, unity and speed of the financial sanctions — with the striking exception of China, a strong Russian supporter — signal a growing global determination to make Moscow reconsider its attack.
French Finance minister Bruno Le Maire said Friday that France and its European allies are determined to inflict great damage on Russian economy and punish Russia for the “foolish decisions of Vladimir Putin” with “massive and immediate sanctions.”
“We want to isolate Russia financially,” Le Maire said. “We want to cut all ties between Russia and the global financial system. We will dry up the financing of the Russian economy.”
France and its allies have decided to further sanction individuals, as well as impose penalties targeting finance, energy and other sectors, French President Emmanuel Macron said Friday. The legal texts for the sanctions will be finalized and submitted for approval to EU foreign ministers later Friday.
Macron also said that the EU has decided on economic aid for Ukraine in the “unprecedented” amount of 1.5 billion euros ($1.68 billion).
Russia’s civil aviation authority has banned U.K. flights to and over Russia in retaliation to the British ban on Aeroflot flights. Rosaviatsiya said that all flights by U.K. carriers to Russia as well as transit flights are banned starting Friday. It said the measure was taken in response to the “unfriendly decisions” by the British authorities who banned flights to the U.K. by the Russian flag carrier Aeroflot as part of sanctions over Russia’s invasion of Ukraine.
Countries in Asia and the Pacific have joined the United States, the 27-nation European Union and others in the West in piling on punitive measures against Russian banks and leading companies. The nations have also set up export controls aimed at starving Russia’s industries and military of semiconductors and other high-tech products.
“Japan must clearly show its position that we will never tolerate any attempt to change the status quo by force,” Prime Minister Fumio Kishida told reporters Friday while announcing new punitive measures that included freezing the visas and assets of Russian groups, banks and individuals, and the suspension of shipments of semiconductors and other restricted goods to Russian military-linked organizations.
“Russia’s invasion of Ukraine is an extremely grave development that affects the international order, not only for Europe but also for Asia,” Kishida said.
