Russia says sanctions over Ukraine a declaration of economic war by the West | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
May 22, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, MAY 22, 2025
Russia says sanctions over Ukraine a declaration of economic war by the West

Europe

Reuters
08 July, 2022, 01:55 pm
Last modified: 08 July, 2022, 01:59 pm

Related News

  • Russia bans Amnesty International as 'undesirable' organisation
  • Poland seizes tires for Boeing aircraft headed for Russia
  • Russia says Ukraine talks yielded a prisoner swap deal and an agreement to keep talking
  • Australia condemns Russia's jailing of Melbourne man caught in Ukraine
  • Putin, Trump to skip Ukraine's peace talks that Russian leader proposed

Russia says sanctions over Ukraine a declaration of economic war by the West

Speaking at a G20 gathering in Indonesia, Lavrov said Russia would now turn to China and India and other nations outside the West. He scolded Russia's rivals for scuppering a chance to tackle global economic issues by focusing on Ukraine

Reuters
08 July, 2022, 01:55 pm
Last modified: 08 July, 2022, 01:59 pm
Russian service members march during a parade on Victory Day, which marks the 77th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow, Russia May 9, 2022. REUTERS/Evgenia Novozhenina/File Photo
Russian service members march during a parade on Victory Day, which marks the 77th anniversary of the victory over Nazi Germany in World War Two, in Red Square in central Moscow, Russia May 9, 2022. REUTERS/Evgenia Novozhenina/File Photo

Russian Foreign Minister Sergei Lavrov on Friday said attempts to isolate Moscow with sanctions was akin to a declaration of economic war by the West, dismissing what he said was "frenzied" criticism of the war in Ukraine.

Speaking at a G20 gathering in Indonesia, Lavrov said Russia would now turn to China and India and other nations outside the West. He scolded Russia's rivals for scuppering a chance to tackle global economic issues by focusing on Ukraine.

Russia's invasion its neighbour has triggered the most serious crisis in relations between Russia and Western nations since the 1962 Cuban Missile Crisis, when many people feared the world was on the brink of nuclear war.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Indonesia urged the G20 on Friday to help end the war, at a meeting that put foreign ministers from some of the staunchest critics of Russia's invasion in the same room as Moscow's top diplomat.

"Aggressors', 'invaders', 'occupiers' - we heard a lot of things today," Lavrov told reporters.

He said the West's discussion "strayed almost immediately, as soon as they took the floor, to the frenzied criticism of the Russian Federation in connection with the situation in Ukraine".

"During the discussion, Western partners avoided following the mandate of the G20, from dealing with issues of the world economy," Lavrov said.

Russia says its "special military operation" is intended to degrade the Ukrainian military and root out people it calls dangerous nationalists.

Ukraine and its Western backers say Russia is engaged in an imperial-style land grab. They say Russia has no justification for the war.

SNAKE ISLAND

Ukrainian President Volodymyr Zelenskiy said on Thursday the raising of the Ukrainian flag on Snake Island in the Black Sea was a sign his country would not be broken, as President Vladimir Putin warned Ukraine's allies that efforts to defeat him would bring tragedy to Ukraine.

In a hawkish speech to parliamentary leaders more than four months into the war, Putin said on Thursday that Russia had barely got started in Ukraine and the prospects for negotiation would grow dimmer the longer the conflict dragged on.

"We have heard many times that the West wants to fight us to the last Ukrainian. This is a tragedy for the Ukrainian people, but it seems that everything is heading towards this," he said.

Zelenskiy, in his nightly video message on Thursday, responded with defiance, saying that the two-month operation to retake Snake Island was a warning to all Russian forces.

"Let every Russian captain, aboard a ship or a plane, see the Ukrainian flag on Snake Island and let him know that our country will not be broken," he said.

Snake Island, a speck south of the port of Odesa, has become a symbol of Ukrainian determination.

In February, when ordered to surrender, the small Ukrainian garrison on the island swore at their Russian attackers and were hit by an air strike.

Russia abandoned the island at the end of June in what it said was a gesture of goodwill - a victory for Ukraine that Kyiv hoped could loosen Moscow's blockade of Ukrainian ports.

On Thursday Ukraine's raised its blue-and-yellow flag on the island. In response, Moscow stuck the island with war planes and destroyed part of the Ukrainian detachment there, it said.

The biggest conflict in Europe since World War Two has killed thousands, displaced millions and flattened Ukrainian cities. Kyiv and the West accuse Russian forces of war crimes, but Moscow says it does not target civilians.

Kyiv lost one of its main international supporters after British Prime Minister Boris Johnson said on Thursday he would step down. Moscow did not conceal its delight at the political demise of a leader whom it has long criticised for arming Kyiv.

Johnson's resignation comes at a time of domestic turmoil in some other European countries that support Kyiv and doubts about their staying power for what has become a protracted conflict.

PAUSE BEFORE FRESH FIGHTING

After failing to quickly take the capital Kyiv, Russia is now engaged in a war of attrition in Ukraine's eastern, industrial heartland of the Donbas, made up of the regions of Luhansk and Donetsk.

On Sunday, Moscow declared it had "liberated" the Luhansk region and now plans to capture parts of neighbouring Donetsk it does not control.

Russia is likely concentrating equipment on front line in the direction of Siversk, about 8 km (4.9 miles) west of the current Russian front line, Britain's defence ministry said on Friday.

Russian forces are likely pausing to replenish before undertaking new offensive operations in Donetsk, the Ministry of Defence said in a Twitter update.

The ministry said that Russia's immediate tactical objective might be Siversk, as its forces attempt to advance towards the Sloviansk-Kramatorsk urban area.

Serhiy Gaidai, governor of Luhansk, said Russian forces were indiscriminately shelling villages, towns and cities.

"They hit houses, every building that seems to them a possible fortification. To move forward, do not count personal losses and do not feel sorry for the inhabitants of the area," he said.

"The situation is similar in the settlements of the Donetsk region, which are located near the border with the Luhansk region."

Vadym Lyakh, the mayor of Sloviansk in the Donetsk region, said a woman was killed overnight when Russian shelling hit a residential building.

Reuters could not independently verify the battlefield accounts.

World+Biz

Russia / Ukraine crisis / G20 / sanctions

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Photo: Collected
    Govt mandates direct elections, term limits for all trade bodies
  • Kakrail intersection on 21 May 2025. Photo: Rajib Dhar/TBS
    Protest's main goal now clear election roadmap, not mayoral oath: Ishraque
  • Mayoral oath: Ishraque now says protest to continue till Adviser Asif Mahmud resigns
    Mayoral oath: Ishraque now says protest to continue till Adviser Asif Mahmud resigns

MOST VIEWED

  • Demra Police Station officials with singer Mainul Ahsan Noble following his arrest from Dhaka's Demra area in the early hours of 20 May 2025. Photo: DMP
    Singer Noble arrested, sent to jail after woman allegedly confined, raped by him for 7 months rescued
  • How Renata's Tk1,000cr investment plan became a Tk1,400cr problem
    How Renata's Tk1,000cr investment plan became a Tk1,400cr problem
  • Govt to cut property registration tax by 40%, align deed value with market rates
    Govt to cut property registration tax by 40%, align deed value with market rates
  • Photo shows actress Nusraat Faria produced before the Chief Metropolitan Magistrate (CMM) Court on Monday, 19 May 2025. File Photo: Focus Bangla
    Nusraat Faria gets bail
  • Faiz Ahmad Taiyeb, special assistant to the chief adviser at the Ministry of Posts, Telecommunication and Information Technology speaks at a press briefing at the Foreign Service Academy on Tuesday, 20 May 2025. Photo: PID
    NoC is mandatory in installing Starlink connections: Taiyeb
  • Fired by US aid cuts, driven by courage: A female driver steering through uncertainty
    Fired by US aid cuts, driven by courage: A female driver steering through uncertainty

Related News

  • Russia bans Amnesty International as 'undesirable' organisation
  • Poland seizes tires for Boeing aircraft headed for Russia
  • Russia says Ukraine talks yielded a prisoner swap deal and an agreement to keep talking
  • Australia condemns Russia's jailing of Melbourne man caught in Ukraine
  • Putin, Trump to skip Ukraine's peace talks that Russian leader proposed

Features

Shantana posing with the students of Lalmonirhat Taekwondo Association (LTA), which she founded with the vision of empowering rural girls through martial arts. Photo: Courtesy

They told her not to dream. Shantana decided to become a fighter instead

6h | Panorama
Football presenter Gary Lineker walks outside his home, after resigning from the BBC after 25 years of presenting Match of the Day, in London, Britain. Photo: Reuters

Gary Lineker’s fallout once again exposes Western media’s selective moral compass on Palestine

1d | Features
Fired by US aid cuts, driven by courage: A female driver steering through uncertainty

Fired by US aid cuts, driven by courage: A female driver steering through uncertainty

1d | Features
Photo: TBS

How Shahbagh became the focal point of protests — and public suffering

2d | Panorama

More Videos from TBS

How realistic is Trump's $2 trillion deal with the Gulf countries?

How realistic is Trump's $2 trillion deal with the Gulf countries?

2h | Others
UK-EU Historic Agreement: How Will the Relationship Change After Brexit?

UK-EU Historic Agreement: How Will the Relationship Change After Brexit?

4h | Others
Bangladesh is exporting mangoes to China for the first time

Bangladesh is exporting mangoes to China for the first time

5h | TBS Today
News of The Day, 21 MAY 2025

News of The Day, 21 MAY 2025

6h | TBS News of the day
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net