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Russian President Vladimir Putin is feeling the consequences of the invasion of Ukraine, as world leaders and corporations slash ties to the Kremlin left and right.
In the days following the announcement that he had authorized invading the neighbor country, entities ranging from world leaders to small business owners are attempting to squeeze Russia out of the global economy.
On Saturday, the United States, Canada, and other European allies released a joint statement announcing that “selected” Russian banks would be removed from the SWIFT financial system.
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A senior Biden administration official explained that the financial system is comparable to “Gmail for banks,” and said that the effects could be crippling.
“If one of these de-SWIFTED and Russian banks wants to make or receive a payment with a bank outside of Russia, such as a bank in Asia, it will now need to use the telephone or a fax machine. And in all likelihood most banks around the world will simply stop transacting altogether with Russian banks that are removed from SWIFT,” the senior administration official said.
Many countries are also barring Russian flights from entering their airspace, such as members of the European Union and Canada.
In a statement, the European Union President Ursula von der Leyen said that airspace within the EU will be shut down for Russian airlines, and even private jets that are Russian registered.
“Our airspace will be closed to every Russian plane – and that includes the private jets of oligarchs,” der Leyen said. “This will apply to any plane owned, chartered or otherwise controlled by a Russian legal or natural person.”
Several U.S. states, including Ohio, Virginia and New Hampshire, have also halted the sale and purchase of Russian-made vodka.
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“Today I directed @OhioCommerce to cease both the purchase & sale of all vodka made by Russian Standard, the only overseas, Russian-owned distillery with vodka sold in Ohio. Russian Standard’s vodka is sold under the brand names of Green Mark Vodka & Russian Standard Vodka,” Ohio Gov. Mike DeWine tweeted on Saturday.
A Las Vegas bar owner and his patrons took to the street to literally pour Russian vodka down the drain.
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Retired CIA Senior Clandestine Services Officer Dan Hoffman told Fox News Digital that Russia currently has a cloud of “cr-p” around them, and no individual wants to do business with them.
“Even if you’re a business that doesn’t care about anything except making money, the last thing you want to be doing is go there. You go to lots of other places to do your business, you don’t need to go there,” Hoffman said.
Oil companies are also taking action against Putin, as BP announced Sunday it is dropping its stake in Russian energy company Rosneft, in which it has a 19.75% stake, according to its chief executive, Bernard Looney. He will also resign from the Rosneft board.
“I am convinced that the decisions we have taken as a board are not only the right thing to do, but are also in the long-term interests of bp,” Looney said in a statement. “Our immediate priority is caring for our great people in the region and we will do our utmost to support them.”
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BP Chairman Helge Lund also cited the Russian invasion of Ukraine as the reason for making the decision.
“Russia’s attack on Ukraine is an act of aggression which is having tragic consequences across the region,” Lund said. “BP has operated in Russia for over 30 years, working with brilliant Russian colleagues. However, this military action represents a fundamental change.”
Anti-Putin protests have erupted in cities around the world as thousands in Switzerland, England, Germany, Greece, Italy, Taiwan, Spain, France, and the United States flooded the streets in support of Ukraine.
People in Russia are turning their back to Putin, with more than 3,000 protesters across the country reportedly arrested between Thursday and Sunday morning, according to the human rights group OVD-Info.
Fox News’ Emma Colton and Timothy Nerozzi contributed to this report