Russia-Ukraine conflict: Moscow’s tit-for-tat move; slaps sanctions on US, Canada

Russia has faced a multitude of sanctions, not only from the United States but also from western and European nations, and now it is retaliating with tit-for-tat. 

As per reports by the Russian Interfax news agency, Moscow is sanctioning 398 members of the US Congress and 87 Canadian senators in a retaliatory move.

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“New announcements of Russian counter measures are planned in the near future, involving an increase in the number of people on the 'stop list' and other retaliatory steps," Russia's foreign ministry said, according to Interfax.

Russia has reportedly introduced these sanctions in reprisal for the US's punitive measure for Moscow’s attack on Ukraine. The attack which began on 24th February today completes seven weeks of fear, violence, and deaths.

"Taking into account the sanctions the US is constantly introducing, further announcements of Russian countermeasures are planned in the near future," the Russian foreign ministry announced, adding that these sanctions include an entry ban.

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In another statement, the ministry also vowed to announce additional sanctions for Ottawa’s "short-sighted" politics.

Following the invasion, Moscow faced a number of crippling sanctions that targeted its economy.

The country has seen the exclusion of its multiple banks from the SWIFT messaging system. It was also met with individual sanctions on its oligarchs, seizing of their personal property like yachts, a coal embargo and restrictions on new investments.

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Additionally, its diplomats have also faced expulsion on charges of alleged spying and espionage.

The prolonged isolation that Russia faces has landed it in a deep economic depression, with its currency Ruble losing its value rapidly. Due to the sanctions, the currency fell to the low of 121.5 rubles per dollar. The ruble is recovering today, with the exchange rate at 82.35 rubles to the dollar on Thursday.

(With inputs from agencies)