Western nations moving swiftly to sanction Russia as cold war warms-up

Ross J Burland FXStreet

Russian President Vladimir Putin delivered a threatening speech in the New York session which has weighed on risk and encouraged a swift response from the West with harsh new sanctions being implemented.

Putin has signed a separatist recognition decree over eastern Ukraine regions and the decrees on recognizing the Donetsk and Luhansk People’s Republics also ordered the Russian armed forces to go into separatist territory on peacekeeping missions.

This has sparked retaliation from the US, UK, EU and UN and the Twitter feeds are quoting some key figures on the international stage in this regard:

UN chief Guterres considers Russia's eastern Ukraine recognition a 'violation of territorial integrity, sovereignty of Ukraine, inconsistent with UN charter.
UK govt says sanctions expected to go further if invasion happens, so they won’t go as far as full package prepared, The Guardian.
UK govt confirms it will be announcing Russia sanctions tomorrow in response to Putin's declaration, The Guardian.
White House official says Biden has started the call with France's Macron and Germany's Scholz.
German government spokesman: Chancellor Scholz agreed with macron and Biden that Putin's decision won't go unanswered.

Tomorrow we will be announcing new sanctions on Russia in response to their breach of international law and attack on Ukraine's sovereignty and territorial integrity.
— Liz Truss (@trussliz) February 21, 2022

Following Russia’s latest assault on Ukrainian sovereignty I spoke to @JosepBorrellF tonight. We agreed and will coordinate to deliver swift sanctions against Putin’s regime and stand shoulder-to-shoulder with Ukraine. pic.twitter.com/ZmzfCqaRBe
— Liz Truss (@trussliz) February 21, 2022

Update

Reuters recently came out with the news conveying that Russia has right to build and establish military bases in eastern Ukraine under new agreement with separatist leaders.

The news escalates the fears of a military invasion by Russia and weigh on the risk appetite, which in turn drag Antipodeans and propel the rush to risk-safety.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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