As a response to the Russian invasion of Ukraine starting in late February 2022, Australia, the European Union, Japan, the United Kingdom, the United States, and many other countries have progressively imposed increasingly significant sanctions and controls relating to Russia and Belarus. These have included targeted sanctions on institutions, state-owned enterprises and political elites, restrictions on debt and equity instruments as well as a broad range of other financial and investment restrictions, and banning virtually all activities involving the Russian-recognized “breakaway” regions of eastern Ukraine. Several countries have also imposed broad new import and export controls restricting access to a wide range of commodities, industrial products, software, technology, and luxury goods.