fredag 11. mars 2022

War in Ukraine: How Asian economies are divided over Russia sanctions

Since its invasion of Ukraine, Russia has become the world's most sanctioned country. But only a few governments in Asia have taken tough action against Moscow. China has refused to outright condemn the invasion of Ukraine and has not imposed any sanctions on Russia.

India, Pakistan, Vietnam, Bangladesh, Sri Lanka, Laos and Mongolia also sat out the vote on a United Nations' resolution to demand the end of Russia's military operations in Ukraine. While Western allies like Australia, Japan, South Korea and Taiwan have imposed sanctions, with Tokyo and Seoul blocking some Russian banks from the Swift global payments system, the impact is limited. That is because the Asian nations who joined western-led sanctions make up only 8% of Russia's global trade.