With the state of war between Ukraine and Russia, the European Union and the United States have imposed sanctions against Russia to punish the government for its act of aggression. These sanctions are against both individuals such as Russian government members, as well as against institutions that are supporting the government.
These sanctions also focus on travel bans (preventing people entering or exiting Russian territory), as well as asset freezes that freeze all accounts belonging to the people and institutions in Russia.
Additionally, other sanctions focused on banning certain imports and exports have also proven to be effective. But more sanctions against Russia will likely be on the horizon as well, and here are a few examples of what might come.
Sanctions On The Metals and Mining Sector
The next round of sanctions will focus on targeting 22 individuals and 83 entities involved in the metal and the mining industries. These sanctions will hopefully reduce the ability of the Russians to wage the war by limiting their ability to produce their weapons as well as maintain their war machine.
More Sanctions On The Financial Sector
One of the things that the international community is trying to do is to isolate Russia from the global economy and prevent President Vladimir Putin from raising the money Russia’s government needs to fight the war. This next round of sanctions threatens to target more banks and individuals who play key roles in the financial sector, further crippling Russia’s economy.
Additionally, the international community is also trying to crack down on the allies of Russia and those who support the invasion of Ukraine, and all of the other ways that Russia is attempting to find loopholes and exceptions to get some relief from the sanctions and gain support for the war.
Tightening Up Existing Restrictions on Diamonds from Russia
Despite all of the sanctions against Russia in other areas, diamonds and some of the global hubs for the production of diamonds have not been shut down.
Diamonds are the third largest export after oil and gas, and because they are financing the war, the international community is trying to get them sanctioned. Russian diamonds targeted for tightening by US will likely be the focus of an upcoming round of sanctions.
While the United States and Ukraine want to tighten the restrictions on the diamonds from Russia, the European Union isn’t focused on targeting this sector, because they also benefit from the sale of diamonds as well. Depending on how the negotiations play out, exactly if the diamond market in Russia is sanctioned is going to either happen or not.
Sanctions Going After Russia’s Technology Sector and Nuclear Intelligence Fields
Finally, two of the fields that the international community as well as the United States are trying to actively thwart Russia in with their sanctions are the technology sectors and Russia’s development of Nuclear weapons.
Many of the sanctions are focused on shutting down the hardware and software that Russia uses in order to gain intelligence for the war, making it so they can’t effectively coordinate large scale operations worldwide.
Many sanctions are also focused on not only shutting down Russia’s control of the enterprises and people that contribute to their nuclear programs, but also preventing them from making full use of the nuclear power plants that they have captured from Ukraine during the course of the war, such as the Zaporizhzhya Nuclear Power Plant.
Russia having access to either nuclear weapons or nuclear energy is going to be something that will cause all sorts of imbalance and problems in the world. These sanctions are going to be extremely important to the safety of the rest of the world and the global balance of power, so they are upcoming sanctions that will never stop being pushed to the fullest extent of the law.
Sanctions Will Continue To Be Pushed As The War For Ukraine Escalates
While these are some of the likely upcoming sanctions that will be proposed by the international community, we could see more as the war in Ukraine continues. It will be an interesting situation to keep an eye on as the world responds to the events and potential outcome of the war.