₦airaland Forum

Belarus is being hit with a tranche of UK sanctions for aiding Russia's invasion of Ukraine.

UK foreign secretary, Liz Truss said Belarus president Alexander Lukashenko’s administration “actively aids and abets Russia’s illegal invasion” and should be made to feel the “consequences”.

Leading Belarusian military figures are among those who have been sanctioned with immediate effect under the UK’s Russia sanctions regime, the Foreign, Commonwealth and Development Office (FCDO) said.

The named individuals will be unable to travel to the UK and any UK-based assets will be frozen.

The Foreign Office said the Belarusian military has “supported and enabled the Russian invasion of Ukraine”.

Among those to be targeted are the Belarus chief of the general staff and first deputy minister of defence, Major General Victor Gulevich, who is responsible for directing the Belarusian armed forces.

Others sanctioned include Major General Andrei Burdyko, the deputy minister of defence for logistics and chief of logistics of the Belarusian armed forces; deputy minister of defence for armament and chief of armament of the Belarusian armed forces, Major General Sergei Simonenko; and deputy minister of defence, Major General Andrey Zhuk.

State enterprises JSC 558 Aircraft Repair Plant and JSC Integral, a military semi-conductor manufacturer, have also been included in the economic strike, the FCDO said.

JSC 558 provides maintenance and servicing to military aircraft at Baranovichi air base, from which Russian aircraft operated as part of the invasion, according to the department.

Ms Truss said: “We are inflicting economic pain on Putin and those closest to him.

“We will not rest until Ukraine’s sovereignty and territorial integrity is restored.

“The Lukashenko regime actively aids and abets Russia’s illegal invasion and will be made to feel the economic consequences for its support for Putin.

“There will be nowhere to hide. Nothing – and no one – is off the table.”

The move follows separate sanctions against Russia, including preventing designated Russian banks from being able to transact payments in sterling and have correspondent banking relationships with UK-based banks.

It is designed to cut Russia’s biggest bank, Sberbank, out of the UK’s financial markets.

A ban has also been enacted on a range of exports critical to the maintenance and development of Russia’s military and strategic interests.

It is being applied in close alignment with the US, European Union and other partners to collectively cut off much of Russia’s high-tech imports, with the intention of constraining Russia’s future military-industrial and technological capabilities.

The Belarus sanctions are on top of those already applied on Minsk by the UK since 2020.

More than 100 people and organisations have previously been targeted in response to the fraudulent elections in Belarus and the “litany of abhorrent acts and human rights violations that the Lukashenko regime continues to commit”, the FCDO has said.

https://www.itv.com/news/2022-03-01/belarus-hit-with-uk-sanctions-for-role-in-russias-invasion-of-ukraine

Pilotaffair:
We've heard enough about Russia news!!
Next please?

What's happening in Canada

Canada’s Inflation Rate Hits 30-Year High: Here’s How it Affects You

Last month, Canada’s official inflation rate hit a whopping 5.1% — a level only seen back in 1991. Increases in the price of food, energy, and shelter have eroded the purchasing power of Canadian consumers, especially given that the average wage increase is around 4%.

Essentially, your money is worth less … a lot less. What may have sufficed for a grocery shopping trip, renting a place, or filling up your gas tank in 2020 is no longer the case. Until the Bank of Canada raises the policy interest rate sufficiently to cool inflation. Canadians will have to rely on these options for mitigating the damage to their wallets.

Dealing with high gas prices
Gone are the days of $1.50 a litre. Today, prices of $1.70, $1.80, or even $1.90 per litre in metropolitan areas for the cheapest 87 octane have been spotted. In January alone, gasoline prices increased by 4.8% and were 31% more expensive compared to the year prior.

The situation has been hampered by high commodity prices, exacerbated by the recent geopolitical crisis with Russia and Ukraine. These costs not only affect average drivers but businesses too, which pass on the cost of pricier gas to their customers by raising prices. Even public transportation is being impacted.

Your best bet here is to find a rewards system to link to a credit card. When filling at participating stations, you can receive a small discount on your gas, and collect points to redeem for small rewards. Although not significant in itself, the savings can add up over time.

https://www.fool.ca/2022/03/01/canadas-inflation-rate-hits-30-year-high-heres-how-it-affects-you/

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Common sanctions.....

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Chai