The international community imposes further sanctions on Russia

According to foreign media on Apr 5th, British Foreign Secretary Liz Truss said during a visit to Warsaw that the UK had frozen around $350 billion in assets from the war chest of Russian President Vladimir Putin. In addition, Truss called for the international community to impose further sanctions on Moscow.In this regard, the European Commission proposed sweeping new sanctions against Russia on the same day, halting trade worth nearly $22 billion. The proposal included banning imports of coal, wood, cement, liquors and seafood worth about $10.4 billion as well as caviar, vodka, rubber and chemicals. In the meantime, the EU also proposed a ban on exports to Russia, including advanced semiconductors, quantum computers and other electrical and transport equipment. Moreover, Russian vessels and trucks would be prevented from accessing the EU, which also prohibited all cross-border transactions with VTB and another three Russian banks. Besides, the Commission proposed a ban on participation of Russian companies in public procurement in the EU. According to an EU source, 36 more individuals, including oligarchs and politicians, would be added to the sanction list.It was reported that So far, the sanctions by the international community have had a crippling impact on individuals and institutions who fed and funded Putin’s war machine. The sanctions imposed by the U.K. meant that over 60% of Putin regime’s foreign currency reserves were unavailable. The U.K. also urged NATO and G7 partners to impose curbs on industries that were filling Putin’s war chest.