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Sanctions imposed on Russia - Coggle Diagram
Sanctions imposed on Russia
U.S. and European allies cut Russian banks from SWIFT
Swift is a global telecommunication that banks use to send and recieve transfer requests
SWIFT facilitates the movement of money
By cutting off some Russian banks from SWIFT, this hinders the movement of money into and out of Russia
This could see higher inflation, and a depreciation of the Rubel, making importing very expensive
This could significantly reduce living standards for Russian people, as their cost of living will increase dramatically
Russian trade sanctions
Russia's air space has been heavily constricted
This has hindered trade, reducing Russia's GDP, through a reduction in export led ecnomic growth
Many private sector firms have aggreed not to export their goods to Russia.
US automakers General Motors and Ford said on Feb. 28 that it will suspend all exports to Russia.
Apple has also stopped sales in Russia, and is limiting services including Apple Pay.
Ban on sports competitions being held in Russia
The F1 Grand Prix held in Russia has been banned
Influencing Russia through soft power, as Russia is slowly being isolated from the sporting world which will lead to the people of Russia becoming increasingly more angry and aggressive towards the Russian Federation
Could see an increase in Riots/ unrest in Russia
Many oil companies are deciding to leave Russia
BP, Shell, and ExxonMobil plan to pull their business from Russia
Russia generates a significant amount of its GDP through exporting oil
Therefore, this will heavily constraint economic growht for Russia
Entertainment and technology
Disney will suspend the release of films in Russia, including the upcoming Pixar movie Turning Red, the company said yesterday.
Another example of soft power, influencing Russians to turn against the Russian Federation