BBC News 23 March 2022
Measures designed to cripple Russia's financial system and hurt its wealthiest citizens have been introduced by nations opposed to its invasion of Ukraine.
Russia has retaliated by banning the export of some products.
What are sanctions?
Sanctions are penalties imposed by one country on another, to stop it acting aggressively or breaking international law.
What sanctions have been imposed on Russia?
Luxury goods, vodka and travel
Selling luxury goods to Russia - including vehicles, high-end fashion and art - is banned by the UK and EU.
The UK will also put a 35% tax on some imports from Russia, including vodka.
A ban on the export of goods used by Russian firms is also being introduced by the UK, EU, US and others.
It includes dual-use goods - items with both a civilian and military purpose - including chemicals and lasers.
All Russian flights have been banned from US, UK, EU and Canadian airspace. The UK has also banned private jets chartered by Russians.
The G7 - an organisation of the seven richest nations - is stripping Russia of its "most favoured nation" status, which means it will lose many trading benefits.
Targeting individuals
The UK, EU and US have imposed sanctions on hundreds of members of the Russian regime, and wealthy business leaders known as oligarchs, who are considered close to the Kremlin.
The UK has put travel bans and asset freezes on former Russian president Dmitry Medvedev and defence minister Sergei Shoigu. Along with the EU and US, it has also imposed sanctions on 386 members of the Russian parliament.
The UK also sanctioned Chelsea FC owner Roman Abramovich.
Assets belonging to Russian President Vladimir Putin and his foreign minister Sergei Lavrov are also being frozen in the US, EU, UK and Canada.
However, Russian billionaire Alisher Usmanov says he is no longer the legal owner of many of the properties which were targeted when he was added to the list of sanctioned individuals.
This could mean these assets are beyond the reach of UK sanctions - and the same could be true for other oligarchs.
The government insists Mr Usmanov "cannot access his assets".
The UK is also limiting the sale of "golden visas", which allowed wealthy Russians to get British residency rights.
Oil and gas
The US is banning all Russian oil and gas imports and the UK will phase out Russian oil by the end of 2022.
US President Joe Biden said it targets "the main artery of Russia's economy".
The EU, which gets a quarter of its oil and 40% of its gas from Russia, says it will switch to alternative supplies and make Europe independent from Russian energy "well before 2030".
Germany has put on hold permission for the Nord Stream 2 gas pipeline from Russia to open.
Financial measures
Western countries have frozen the assets of Russia's central bank, to stop it using its $630bn (£470bn) of foreign currency reserves. Other measures against it include:
- suspension from the Bank for International Settlements - "the central bank for central banks" - to stop it using its services
- The US, EU and UK have banned people and businesses from dealing with it
Some Russian banks are being removed from the international financial messaging system Swift, which is used to transfer money across borders. This will delay payments to Russia for energy exports.
Other UK sanctions include:
- major Russian banks excluded from the UK financial system
- all Russian banks have had their assets frozen
- the Russian state and major companies are not be able to raise finance or borrow money in the UK
- a limit placed on deposits Russians can make at UK banks
The EU also said it would target 70% of the Russian banking market and key state-owned firms.
What are companies doing?
A growing number of international companies including McDonald's, Coca-Cola and Starbucks have suspended trading in Russia.
Firms have acted because shareholders "wouldn't stand" for the continued generation of profits from Russia, says Anna MacDonald, a fund manager at Amati Global Investors.
However, a number of other Western brands including Marks and Spencer, Burger King, and hotel groups Marriott and Accor say they cannot withdraw from Russia because their businesses operate there under complex franchise deals.
How has Russia reacted to sanctions?
Russia has banned exports of more than 200 products until the end of 2022.
It includes telecoms, medical, vehicle, agricultural, electrical equipment and timber.
It has also more than doubled its key interest rate to try to stop the decline of the rouble.
In addition it is blocking interest payments to foreign investors who hold government bonds, and banning Russian firms from paying overseas shareholders.
It has stopped foreign investors who hold billions of dollars worth of Russian stocks and bonds from selling them.
Russia has also warned that it could shut off gas supplies in response to oil sanctions.
