Ukraine: Which sanctions dem fit impose on Russia?
Wia dis foto come from, Getty Images
- Author, James Landale
- Role, Diplomatic correspondent
Western powers dey threaten one serious economic punishment against Russia if dem invade Ukraine.
Western diplomats no gree drop clear details about di kind penalty to keep Russia guessing and to use wella effect of how dem go discourage odas. So which kind punishment di West dey plan?
Financial restrictions
One thing wey dem dey consider be to exclude Russia from di system wey dem sabi as Swift - one global financial messaging service. E dey used by many thousand of financial institutions for more dan 200 countries.
Boris Johnson bin tell MPs say to ban Russia from dis go be one"strong weapon".E go almost make am very hard for Russia banks to do business overseas.
Dem use dis punishment against Iran for 2012 and di kontri lost ogbonge oil revenue and one big chunk of foreign trade.
Wia dis foto come from, Getty Images
But dis sanction go get economic cost for countries like di United States and Germany wey dia banks get close link to Russia financial institutions.
Dollar clearing
Di US fit ban Russia from financial deal wey involve US dollars. Essentially, any western company wey allow one Russia institution to deal wit dollar go face penalty.
Dis one go mean say Russia go dey seriously limited for wetin it fit buy and sell around di world.
End of Di one wey oda users dey read well well
Dis fit get big impact on Russia economy as most of im oil and gas market dey settled wit dollars.
Sovereign debt
Western powers fit take action to block further Russia access to international debt markets.
Di ability of Western institution and banks to buy Russia bonds dey already restricted - those curbs fit dey tightened.
Dis one fit prevent di country access to money wey dem need to grow dia economy. Di country cost of borrowing fit rise and di value of di Rouble fit fall.
Russia don prepare for dis as dem bin reduce di amount of money wey dey wit foreign investors .
Wia dis foto come from, Getty Images
Block di banks
Di US fit just blacklist some Russia banks, to make am almost impossible for anybody in di world to do business wit dem.
Moscow go need bail out di banks and do wetin dem fit do to avoid inflation rising and incomes falling.
Dis go, though, e go get major negative impact for western investors wey get money for those Russian banks.
Targeted export controls
Di West fit restrict di export of key commodities to Russia.
Di US fit, for example, stop companies wey dey sell any goods wey contain American technology, software or equipment.
Dis fit involve, in particular, semiconductor microchips, wey dem dey use inside everything from car to smart phone, machine tools to electronics.
Dis go target no be just Russia defence and aerospace sectors, but di whole of dia economy.
Energy restrictions
Russia economy hugely depend on selling gas and oil overseas. Di sales be big source of revenue for di Kremlin.
Di West fit make am illegal for countries and companies to buy oil from di big Russia energy giants like Gazprom or Rosneft.
Wia dis foto come from, Getty Images
One new gas pipeline under di Baltic Sea from Russia to Germany wey dem dey call Nord Stream 2 fit dey abandoned. E dey ready to start operations but still dey wait regulatory approval.
But, any control on Russian gas fit make price high across Europe, plenti of which depend on energy from di east.
Pipo wey dey targeted
Dem fit target some pipo for new punishment , including not only link of Vladimir Putin but also di Russian President himself.
Dis go most likely involve make dem punish acts of hostility against Ukraine or threaten dia sovereignty or territorial integrity.
Asset freezes and travel bans be di most likely options. But many punishments like dat already dey in force and dey yet to change many Russia behaviour.
Di hope wey US and European powers get be say di Russia elite go put pressure on Oga Putin if dem no dey able to access dia wealth for foreign countries and educate dia children for western schools and universities.
London clampdown
Some punishment fit dey imposed to stop di ability of Russian pipo to invest and live for London.
Wia dis foto come from, Getty Images
Na im be di scale of Russia money for banks and property for di UK say di capital don dey dubbed "Londongrad".
Di UK government claim say dem dey tackle dis problem wit "unexplained wealth orders", wey require make pipo say where dia cash bin come from.
But only small of dis orders don ever dey used. Some US organisations want make di White House push di UK harder ontop dis.
Wahala for di West
Di main gbege for di West be to decide di kind punishment dem suppose sama dem and when. Differences dey between countries ontop dis.
How much make di sanctions be go depend on di scale and di kind Russia attack? If, e be to quote President Biden, e get "minor attack", which sanction go dey justified? And who go send dem?
When we ask about dis, US officials say unity of purpose dey but admit say dem fit be "division of labour" wit different countries to sama different sanctions.
Russia fit also reduce di level of western sanctions as dem fit run to China and oda allies for support.
Di bottom line be say most effective economic sanctions often dey come at one high price for for pipo wey sama dem. Trade-offs dey and no be everybodi for di West dey want allow dem.
