Outside of Europe and the North American continent, only Australia, Japan, New Zealand, Taiwan and South Korea have supported sanctions against Russia. Australia is the only country that supports Ukraine with arms supplies.
Thus, Russia can continue to trade freely with most countries of the world. This also includes China, which is the largest buyer of 10 percent of Russian exports. Russia’s second largest importer, Turkey (6 percent), has not yet imposed any economic sanctions. The Turks supply Ukraine with weapons, especially drones. Thus, Ankara is the only arms supplier in this conflict that also does not impose sanctions.
Western diplomats are trying to get other countries to take punitive measures, but there are more possibilities to tighten the screws on Russian President Putin. Despite new announcements from the United Kingdom and the United States, the Allies did not turn off all stops on this front. For example, the United States is the only country that imposes restrictions on the import of luxury goods. Russian gas, oil and minerals are still welcome in many places.
Exports of luxury goods and technology to Russia have been restricted by most countries, as has Russia’s ability to borrow. Most Western countries have also cut off Russian banks from the Swift system. According to the sanctions database Castellum.ai, the United States is the country with the most diverse sanctions. With 1,244 penalties as of Thursday, they top the list in absolute numbers.
