Russia feels full force of economic sanctions as global firms shun country

PMQs: Keir Starmer quizzes Boris Johnson on Russia sanctions

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Mastercard, Jaguar Land Rover, shipping giant Maersk, YouTube and French oil firm TotalEnergies, were among household names that cut ties with Moscow in protest at the Ukraine invasion. Britain became the first country to ban ships with any Russian connection from entering UK ports. Transport Secretary Grant Shapps unveiled the move – which will bar oligarchs’ yachts as well as commercial vessels – in a tweet, urging people to: “Do the same in support of the people of #Ukraine.”

In Russia, civilians queued for cash machines as they desperately tried to withdraw money amid fears banks could run out or close.

Meanwhile, the misery doled out by Putin’s war machine revealed itself again in photos of Ukrainian shoppers faced with bare shelves. Mastercard and rivals Visa said they will block multiple Russian financial institutions from their global networks. They said the move complied with US sanctions.

Both firms plan to donate $2million (£1.5million) for humanitarian aid.

Jaguar Land Rover said it was suspending sales to Russia due to “trading challenges”.

The Coventry-based company, which sold 6,900 vehicles to Russia last year, added: “Jaguar Land Rover’s first priority is the wellbeing of our entire workforce and their families, as well as those within our extended network.

“The current global context also presents us with trading challenges so we are pausing the delivery of vehicles into the Russian market and continually monitoring the situation.”

The world’s top two shipping companies, MSC and Maersk, have put cargo shipments to and from Russia on hold.

Swiss-based MSC said its stop on cargo bookings covered the Baltics and Black Sea, while Maersk has banned everything except food, medical and humanitarian supplies. Danish-owned Maersk owns a third of Russian port operator Global Ports, and carries cargo to cities including St Petersburg and Vladivostok.

A spokesman said: “With Global Ports we are looking at how to comply with the ever-evolving sanctions and restrictions and preparing possible next steps.”

Oil giant TotalEnergies agreed to make no further investments in Russian projects. But the business fell short of formally cutting its links with Moscow.

With a 20 per cent stake in Novatek – Russia’s largest independent natural gas producer – and interests in oil fields, refineries and renewables projects, it is one of Putin’s biggest investors.

A spokesman said: “We express our solidarity with the Ukrainian people who are suffering the consequences, and with the Russian people who will also suffer the consequences.

“TotalEnergies supports the scope and strength of the sanctions put in place by Europe and will implement them regardless of the consequences on its activities in Russia.” Tech giants YouTube and Facebook have blocked channels linked to Russian state-owned media outlets RT and Sputnik across Europe.

Sir Nick Clegg, the former LibDem deputy prime minister, is now vice president of global affairs at Facebook owner Meta. He said the move was prompted by approaches from the Government.

Russian cinemagoers will also miss new blockbusters after Sony, Warner Bros and Disney pulled their latest films. The ban includes The Batman, which had been due to screen this Friday. The Walt Disney Company said it would also provide aid for Ukrainian refugees.

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