Russia publishes list of 'unfriendly countries' after invasion of Ukraine

·Breaking News Editor, Yahoo News UK
·3 min read
MOSCOW, RUSSIA - FEBRUARY 24, 2022: Russia's President Vladimir Putin is seen during a meeting with members of Russian business community in the Moscow Kremlin. Alexei Nikolsky/Russian Presidential Press and Information Office/TASS (Photo by Alexei Nikolsky\TASS via Getty Images)
Russia has published a list of 43 "unfriendly countries" which face new economic restrictions (Getty)

Russia has published a list of 43 "unfriendly countries" which face new economic restrictions in retaliation for sweeping sanctions brought in by the West.

Vladimir Putin's forces have been trying to gain control over Ukraine for 13 days, but run into a number of logistical problems and a stronger resistance than they initially expected.

Sanctions have also been imposed by the UK, US, Canada and the EU, causing the Russian ruble to drop to its lowest ever value.

These have included sweeping measures against Putin himself, his ministers, oligarchs, individuals close to the Kremlin, banks, and key businesses.

Under the new restrictions being brought in by the Kremlin, financial trades, loans, and real estate purchases will need "special authorisation" if nations from the list are involved.

The list includes;

  • United States

  • Canada

  • the EU states

  • UK (including Jersey

  • Anguilla

  • British Virgin Islands

  • Gibraltar

  • Ukraine

  • Montenegro

  • Switzerland

  • Albania

  • Andorra

  • Iceland

  • Liechtenstein

  • Monaco

  • Norway

  • San Marino

  • North Macedonia

  • Japan

  • South Korea

  • Australia

  • Micronesia

  • New Zealand

  • Singapore

  • Taiwan (considered a territory of China, but ruled by its own administration since 1949)

Civilians leaving the city of Irpin during the evacuation during the Russia-Ukraine War, on March 7, 2022 (Photo by Andrea Filigheddu/NurPhoto via Getty Images)
Civilians leaving the city of Irpin as the Russian invasion continues (Getty)
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Click on this image to see all Yahoo News UK's latest content on the Ukraine crisis

Taiwan was an interesting addition to the list, as China - a key ally of Russia - does not recognise it as a separate country but rather part of its own borders.

China has refused to condemn Russia's actions and refused to call Putin's actions an "invasion", instead asking Western nations to respect Russia's "legitimate security concerns".

It has called for a solution to the crisis through peaceful negotiations.

Taiwan's foreign minister Joseph Wu said Russia's decision to put Taiwan on the list would have little effect on their bilateral relations.

During a visit to London on Monday, Canadian prime minister Justin Trudeau announced new sanctions against 10 individuals who were "complicit in this unjustified invasion."

Russia’s economy has come under immense pressure from the international sanctions, with the rouble weakening to 133.5 to the dollar - a 40% drop in value compared to before the invasion.

Russian state media has portrayed the measures as a retaliation to the sanctions brought in, which have almost entirely cut the Russian people from international payment systems.

Watch: Russia 'built itself a trap' over Ukraine invasion UK defence secretary says

A number of credit card companies have also pulled out of Russia, including Visa, Mastercard and American Express.

The list follows a presidential decree on 5 March allowing the Russian government, companies and citizens to temporarily pay foreign currency debts owed to overseas creditors from "unfriendly countries" in rubles.

To make such payments, the government said debtors should open a special type of ruble account with a Russian bank and transfer into it the ruble equivalent of the foreign currency amount owed according to the central bank's official exchange rate on the day of payment.

The Russian economy could come under further pressures following reports US President Joe Biden is set to announce a ban on Russian oil and other energy imports.

WASHINGTON, DC - MARCH 04: U.S. President Joe Biden speaks while meeting with Finnish President Sauli Niinistö in the Oval Office of the White House March 4, 2022 in Washington, DC. Biden and Niinstö discussed a range of bilateral issues during their meeting. (Photo by Pete Marovich-Pool/Getty Images)
The Russian economy could come under further pressures following reports US President Joe Biden is set to announce a ban on Russian oil (Getty)

Biden has been working with allies in Europe, who are far more dependent on Russian oil, to isolate Russia's energy-heavy economy and Putin.

Two people familiar with the matter told Reuters on Monday the United States may move ahead with a ban on Russian oil imports without the participation of allies in Europe.

The UK is reportedly set to join the US in the ban, and will ban the import of Russian oil gradually.

It comes after Ukrainian president Volodymyr Zelenskyy issued a plea for the West to stop buying Russian oil, which has so far escaped sanctions.

Oil prices climbed back above $130 a barrel as reports of the latest sanctions emerged.

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