INSIGHTi
Russia’s Invasion of Ukraine: Overview of
U.S. and International Sanctions and Other
Responses
Updated March 4, 2022
On February 24, 2022, Russia launched a full-scale air, land, and sea attack on the independent and
democratic state of Ukraine (see CRS Insight IN11872, Russia’s Invasion of Ukraine: Military and
Intelligence Issues and Aspects). The United States and its allies around the world have condemned
Russia’s “unprecedented military aggression” as “unprovoked and unjustified.” President Biden said,
Now the entire world sees clearly what [Vladimir] Putin and his Kremlin allies are really all about.
This was never about genuine security concerns.... It was always about naked aggression, about
Putin’s desire for empire by any means necessary.... Putin’s actions betray his sinister vision for the
future of our world—one where nations take what they want by force.
The United States and allies, including the European Union (EU), EU members, and the United Kingdom
(UK), have provided or pledged new military assistance to Ukraine. Members of legislatures, local
governments, businesses, and publics in the United States and many other countries have expressed
support for Ukraine and have condemned Russia’s invasion. Several large multinational companies have
suspended or withdrawn from operations in Russia. On March 2, 2022, the U.N. General Assembly voted
141-5 to demand Russia “immediately, completely and unconditionally withdraw” from Ukraine (34
countries, including China and India, abstained).
Since December 2021, the United States and allies had warned Russia’s leadership they were prepared to
impose severe new sanctions if Russia launched a new invasion of Ukraine, a country Russia first invaded
and partially occupied in 2014. The United States and allies imposed an initial round of sanctions on
February 21-23, 2022, in response to Russia’s alleged recognition of two Russia-occupied regions in
eastern Ukraine as independent states. Since Russia launched its military attack on February 24, the
United States and allies have imposed a series of increasingly severe sanctions.
Members of Congress are considering legislation to require additional sanctions and other actions in
response to Russia’s invasion. On March 2, 2022, the House agreed 426-3 to a resolution (H.Res. 956)
expressing strong support for Ukraine and the Ukrainian people.
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U.S. Sanctions
Recent rounds of U.S. sanctions and related actions appear to be more impactful than sanctions the United
States had imposed on Russia prior to its new aggression (see CRS Report R45415, U.S. Sanctions on
Russia). Sanctions and related actions the United States has imposed from February 21 through March 3,
2022, include the following:
Restrictions on transactions with Russia’s central bank, limiting its ability to draw on
dollar-denominated foreign reserves, and transactions with Russia’s Ministry of Finance
and National Wealth Fund (with exceptions for energy-related transactions).
Restrictions on transactions by U.S. financial institutions (including correspondent and
payable-through accounts) with Sberbank, Russia’s largest financial institution and one
of Russia’s five largest companies (with exceptions for energy-related transactions,
among others).
Full blocking sanctions (including restrictions on transactions and access to U.S.-based
assets) on
VTB Bank (Russia’s second-largest financial institution) and four other Russian
financial institutions, including two operating in Russia’s defense sector (with the
above-mentioned exceptions);
VEB, a major state development bank that “provides financing for large-scale
projects to develop the country’s infrastructure and industrial production” (with
the above-mentioned exceptions);
Russian Direct Investment Fund, one of Russia’s sovereign wealth funds, and its
chief executive officer (CEO);
Nord Stream 2 AG, the parent company of Russia’s Nord Stream 2 natural gas
pipeline project, and its CEO;
Several defense-related entities;
Russian President Putin, Foreign Minister Sergei Lavrov, Defense Minister
Sergei Shoigu, and Chief of the General Staff Valery Gerasimov;
Members of Russia’s Kremlin-connected business elite (sometimes referred to as
oligarchs) and their family members;
certain Russian disinformation operations; and
Belarusian entities, officials, and elites in response to Belarus’s support for
Russia’s invasion.
Export controls on Russia and Belarus that the U.S. Commerce Department describes as
“the most comprehensive application of Commerce’s export authorities on U.S. items.”
In addition to new controls on exports from the United States, Commerce imposed
restrictions on “sensitive U.S. technologies produced in foreign countries using U.S.-
origin software, technology, or equipment.” These controls are intended to restrict the
ability of many foreign manufacturers to export to Russia “semiconductors,
telecommunication, encryption security, lasers, sensors, navigation, avionics and
maritime technologies.”
Export controls on oil and gas extraction equipment.
Restrictions against secondary-market transactions by U.S. financial institutions in
Russian sovereign debt (previous restrictions applied to transactions in the primary
market).
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Restrictions against new equity investment and financing for 13 top Russian companies,
including
Russia’s largest firm, state-owned energy company Gazprom;
Alrosa, the world’s largest diamond-mining firm;
Sovcomflot, Russia’s largest maritime and freight shipping firm;
Russian Railways; and
Alfa Bank, Russia’s largest private bank.
Ban on Russian aircraft entering and using U.S. airspace.
Prohibitions against U.S. trade or investment in Russia-occupied regions of eastern
Ukraine and sanctions against those who operate in those regions.
Allied Sanctions
The EU, the UK, other non-EU countries (including Switzerland), Canada, Australia, New Zealand,
Japan, South Korea, Singapore, and Taiwan, among others, have imposed or announced sanctions, export
controls, or both in response to Russia’s actions. The United States has coordinated sanctions decisions
with the EU and other allies. Many sanctions imposed by U.S. allies are identical or similar to U.S.
sanctions, including restricting transactions with Russia’s central bank and airspace bans. In addition, the
EU has prohibited specialized financial messaging services, including the Society for Worldwide
Interbank Financial Telecommunication (SWIFT), the world’s primary such service, from serving seven
Russian financial institutions (excluding Sberbank). The EU has imposed sanctions on most members of
the Duma, the lower house of Russia’s parliament, for their support of Russia’s alleged recognition of the
separatist regions of eastern Ukraine, and has suspended broadcasting of Russian state-owned networks
Sputnik and RT. Prior to Russia’s full-scale invasion, the German government suspended certification of
Nord Stream 2, preventing the pipeline from becoming operational.
For more information on new financial and trade sanctions on Russia, see CRS Insight IN11871, Russia’s
Invasion of Ukraine: New Financial and Trade Sanctions.
Author Information
Cory Welt
Specialist in Russian and European Affairs
Disclaimer
This document was prepared by the Congressional Research Service (CRS). CRS serves as nonpartisan shared staff
to congressional committees and Members of Congress. It operates solely at the behest of and under the direction of
Congress. Information in a CRS Report should not be relied upon for purposes other than public understanding of
information that has been provided by CRS to Members of Congress in connection with CRS’s institutional role.
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