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What I don’t understand is, if there are sanctions, why wasn’t everything stopped when they started? Why did it take over a week after the sanctions started? (

What I don’t understand is, if there are sanctions, why wasn’t everything stopped when they started? Why did it take over a week after the sanctions started? (I know that oil and gas aren’t sanctioned)

sp332 5y ago
Not absolutely everything is sanctioned. Lots of companies are "self-sanctioning".
vertis 5y ago
To the best of my knowledge, these aren't sanctions, just companies acting unilaterally to support Ukraine. So many stories of it having an impact on those on our side, that just happen to have a Russian or Belarusian passport. Even people that have already fled after previous crackdowns. They don't just get magical new passports.
- ushakov 5y ago
  me too, i have my "bad" passport somewhere in the closet, but i don't live in Russia over half of my life and don't plan to return any time soon luckily, identity verification can be done with EU-residence permit and hopefully companies don't start discriminating Russians abroad
- sofixa 5y ago
  > To the best of my knowledge, these aren't sanctions, just companies acting unilaterally to support Ukraine Some of the sanctions ( like kicking out of SWIFT most Russian banks) make doing business in Russia extremely complicated, so even if there aren't direct sanctions forcing a pullout, they can indirectly have that effect.
  - vertis 5y ago
    Agreed, but the SWIFT problems shouldn't impact EU business accounts (which is what I suspect this is, based of the twitter profiles location in Tallinn).
megapolitics 5y ago
Sanctions can be implemented with a "wind down" period for companies to gradually come into compliance with the sanctions. In the UK, for example, there is a wind down period expiring at 23:59 tonight for sanctions relating to "sovereign debt, loans and money market instruments".[1] The situation in the OP is not necessarily related to any sanctions though, it may be a voluntary act on the part of Wise. [1] https://sanctionsnews.bakermckenzie.com/uk-introduces-new-financial-trade-and-shipping-sanctions-against-russia/ https://sanctionsnews.bakermckenzie.com/uk-introduces-new-fi...
- hef19898 5y ago
  It also takes time to figure out if, and in what way, a given company is affected by sanctions. Sometimes its straight forward, most of the time it is not.
- hirako2000 5y ago
  thinking of it, it is hard to beleive we live in a democracy that impose all commercial entities to comply with proclaimed sanctions that didn't go through a vote. I suppose it wouldn't make a difference given the popular opinion, but a vote would at least allow for argumentative debates since the impact on businesses and consumer is massive.

sp332 5y ago

Not absolutely everything is sanctioned. Lots of companies are "self-sanctioning".

vertis 5y ago

To the best of my knowledge, these aren't sanctions, just companies acting unilaterally to support Ukraine. So many stories of it having an impact on those on our side, that just happen to have a Russian or Belarusian passport. Even people that have already fled after previous crackdowns. They don't just get magical new passports.

ushakov 5y ago
me too, i have my "bad" passport somewhere in the closet, but i don't live in Russia over half of my life and don't plan to return any time soon luckily, identity verification can be done with EU-residence permit and hopefully companies don't start discriminating Russians abroad
sofixa 5y ago
> To the best of my knowledge, these aren't sanctions, just companies acting unilaterally to support Ukraine Some of the sanctions ( like kicking out of SWIFT most Russian banks) make doing business in Russia extremely complicated, so even if there aren't direct sanctions forcing a pullout, they can indirectly have that effect.
- vertis 5y ago
  Agreed, but the SWIFT problems shouldn't impact EU business accounts (which is what I suspect this is, based of the twitter profiles location in Tallinn).

megapolitics 5y ago

Sanctions can be implemented with a "wind down" period for companies to gradually come into compliance with the sanctions. In the UK, for example, there is a wind down period expiring at 23:59 tonight for sanctions relating to "sovereign debt, loans and money market instruments".[1] The situation in the OP is not necessarily related to any sanctions though, it may be a voluntary act on the part of Wise. [1] https://sanctionsnews.bakermckenzie.com/uk-introduces-new-financial-trade-and-shipping-sanctions-against-russia/ https://sanctionsnews.bakermckenzie.com/uk-introduces-new-fi...

hef19898 5y ago
It also takes time to figure out if, and in what way, a given company is affected by sanctions. Sometimes its straight forward, most of the time it is not.
hirako2000 5y ago
thinking of it, it is hard to beleive we live in a democracy that impose all commercial entities to comply with proclaimed sanctions that didn't go through a vote. I suppose it wouldn't make a difference given the popular opinion, but a vote would at least allow for argumentative debates since the impact on businesses and consumer is massive.