BBC reporting initial sanction details announced by the EU commission that are mirrored by US, Canada, South Korea and Japan. 5 main pillars of sanctions targeting Putin and Oligarchs
-Financial - Eliminates financial market access to 70% of Russian banks and state owned energy and defense companies. No more deposits into European banks by Russian elites.
-Energy - Oil and gas sanctions designed to elimate Russias ability to upgrade their crude oil
-Transport - immediate ban of all aircraft and spare parts to Russian airlines and ban of Aeroflot.
-Export controls and financing - All cutting and and semi conductor export and financing to Russia is now banned
-Visa restrictions - Diplomats and Russian business man no longer have any privileged access
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