All Sanctions Against Russia
Context: Russia-Ukraine War Source: Hindu
Sanctions not only lead to economic harm but also bear legal consequences for the sanctioning state
What are Sanctions?:
Sanction can be defined as a measure of coercion of an economic nature, as opposed to diplomatic or military means, taken by states either collectively or individually
- Collective sanctions can be imposed by an International organisation based on a military (UN) or regional (EU) treaty
- UNSC is the centre of collective sanctions, Article 39 and Article 41 under Chapter VIII state that "these may include complete or partial economic relations and of rail, sea, air, postal, telegraphic, radio, and other means of communication, and the severance of diplomatic relations
- UNSC has established 30 regimes of sanctions which have taken a variety of shapes from trade measures to arms, financial tools and travel bans
- UN is insisting that these sanctions cannot operate in a vacuum, but should see as a large apparatus to restore Peace and security
- There are 14 sanctions are in place today, each of them is administered by a sanctions committee and a chaired by non-permanent members of the UNSC
- More than 30 EU sanctions have been adopted and some of these are already targeted Russia's previous Intervention in Ukraine
