Just 10 days after President Vladimir Putin’s invasion of Ukraine, Russia overtook Iran and North Korea to become the country with the most sanctions in the world just 10 days after President Vladimir Putin’s invasion of Ukraine, according to Bloomberg.
In the wake of U.S. and European actions, Russia has targeted 2,778 new sanctions since February 22, according to Castellum.ai, a global sanctions-tracking database, bringing the total number of sanctions to more than 5,530.
That surpasses Iran, which imposed 3,616 sanctions on the country in a decade, mostly because of its nuclear program and support for terrorism.
The pressure on Russia is growing almost every day. Over the weekend, American Express Co. and Netflix Inc. have joined a growing list of companies exiting or ceasing operations in Russia. Some do it because of sanctions obligations, and some “self-sanction” — in fact, choosing to leave, although they are not legally obliged to do so.
“This is a financial nuclear war and the biggest sanctions event in history,” said Peter Piatetsky, former finance minister at the Treasury Department and co-founder of Castellum.ai.