Issue link: https://read.uberflip.com/i/1497322
Sanctions against Russia 78 Commons Library Research Briefing, 22 March 2023 5 Imposition of third country secondary sanctions Sanctions are one of the international community's main foreign policy tools in response to Russia's actions in Ukraine. There is, however, a debate over their longer term impact and whether Russia will turn toward other countries such as China, India, Turkey and Iran in order to negate their effects. Western governments have sought to address the potential loopholes in the evolving sanction's regime. In a statement on 24 March 2022 the countries of the G7 stated: We will continue to cooperate closely, including by engaging other governments on adopting similar restrictive measures to those already imposed by G7 members and on refraining from evasion, circumvention and backfilling that seek to undercut or mitigate the effects of our sanctions. We task the relevant Ministers in a focused initiative to monitor the full implementation of sanctions and to coordinate responses related to evasive measures, including regarding gold transactions by the Central Bank of Russia. We stand ready to apply additional measures as required, continuing to act in unity as we do so. We commend those partners who have aligned with us in these efforts. 347 The European Council also met on 24 March and adopted similar conclusions, stating that in addition to further coordinated sanctions, the EU remained ready "to close loopholes and target actual and possible circumvention". The Council called on all countries to adopt sanctions against Russia and said that "any attempts to circumvent sanctions or to aid Russia by other means must be stopped". 348 In the last few months, allies have introduced measures intended to tighten the sanctions regime and address sanctions evasion (see above). Questions continue to be asked, however, about the possible censure of countries and state-affiliated organisations who are assisting Russia in either evading sanctions, or in the conduct of its war in Ukraine. On 25 March 2022 US National Security Advisor, Jake Sullivan, suggested that the US was prepared to implement secondary sanctions "if it becomes necessary to do so". 349 However, the imposition of such sanctions would come with costs for the global economy and as Tom Keatinge highlighted in evidence to the Treasury Select Committee on 7 March 2022: 347 G7 Leaders' Statement, 24 March 2022 348 European Council, Conclusions, 25 March 2022 349 White House, Press gaggle, 25 March 2022