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Topics: Ukraine, Russia, World News, Vladimir Putin
Shola Lee
This morning, February 26, Russia responded to sanctions imposed on the country following President Vladimir Putin's invasion of Ukraine.
Moscow looks set to respond to the sanctions imposed by the US, EU, and other 'unfriendly jurisdictions' with its own retaliatory sanctions, according to reports.
Dmitry Medvedev, deputy chairman of the security council of Russia, said the funds of foreigners and foreign companies would be seized.
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It was also reported that Moscow has not ruled out nationalising the assets of companies registered in the 'unfriendly jurisdictions', as per Sky News.
Prior to this, Russian presidential spokesperson Dmitry Peskov spoke of the package of retaliatory sanctions.
'Of course, we will follow up with retaliatory measures,' he said, while adding that Moscow is aware of the West's weaknesses.
Alongside these sanctions, Russia has suspended its European collaboration on space launches, reportedly halting launches from French Guiana.
The news comes after director general of the Russian space agency Dmitry Rogozin warned that without the agency's help, the International Space Station (ISS) might not be able to operate safely.
He said, per Space.com, 'If you block cooperation with us, who will save the ISS from an uncontrolled deorbit and fall into the United States or Europe?'
Russia controls the engines on board the ISS, which is home to four Americans, two Russians and one German.
Rogozin's comments came after US president Joe Biden suggested that US sanctions on Russia could damage the Russian space industry, as per the Independent.
Biden's sanctions were introduced with those imposed by the European Union and other G7 countries. The sanctions were imposed on Russia following president Vladimir Putin's invasion of Ukraine. The sanctions target Russia's economy and financial sectors, as well as Russian oligarchs, Putin himself and Russian foreign minister Sergey Lavrov.
US President Joe Biden presented the sanctions in a public address following a meeting with G7 leaders.
Further sanctions are being considered as the war in Ukraine continues.
One such sanction that has been discussed but didn't receive the 'necessary unanimity' to be implemented was banning Russia from SWIFT.
SWIFT is an online payment network that enables transactions to be carried out across the world.
While EU leaders couldn't reach a consensus on whether to impose the sanction, it remains a 'future consideration'.
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