• Українською
  • Anything that can generate revenue for russia and supply the russian army must be under sanctions, urges Yuliia Svyrydenko
    Ministry of Economy of Ukraine, posted 02 March 2023 00:23

    Ukraine's international partners continue to support our country on the sanctions front. In particular, the 10th package of sanctions from the European Union covers financial institutions of the russian federation, a ban on exports of dual-use goods to russia, the UK has proposed sanctions against russian nuclear energy, the US has introduced additional duties on imports of russian metals. We regularly provide information to our partners on the impact of sanctions on the russian economy and work to increase sanctions pressure on the aggressor state.

    This was stated by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine, during a live broadcast at the National Telethon on March 1.

    "We expect the greatest effect from the mirroring of sectoral sanctions. This is a powerful blow to the aggressor, because hundreds of russian banks, thousands of financial institutions, credit organizations, insurance companies and investment funds that finance the war are subject to sanctions. The financial sector is the most sensitive for our partners, but it is also essential for us. We are using all the tools at our disposal to block russian banks and stop the activities of foreign financial institutions in russia," said Yuliia Svyrydenko.

    Weakening the russian economy to the point where russia will not be able to wage war is not only possible, but it is a key objective of the sanctions policy of Ukraine and its partners. To stop russia from financing the war and using nuclear terrorism, it is necessary to increase sanctions pressure on rosatom and the nuclear energy sector of the russian federation. The aggressor country must lose its place as a global exporter in the global energy market. 

    Another important area that Ukraine is working on is the introduction of restrictions on imports of russian diamonds, for which the russian budget receives USD 2 billion annually. The shaping of global approaches to this issue will be addressed, in particular, at the G7 level. Other priorities include russian propagandists, banks servicing the russian military-industrial complex, the metallurgical industry, and toughening visa restrictions for supporters of the aggressor regime. 

    "Detecting and preventing the circumvention of sanctions remains an important issue. We are working with our partners to improve these mechanisms. The European Union has already introduced restrictive measures in the 10th package of sanctions against third countries, including Iran, which allow russia to circumvent sanctions. The objective is to include these countries in the sanctions packages of all our partners," added Yuliia Svyrydenko.