PRESS RELEASE : Sanctions against Russia are effective, but even tougher steps are needed in this direction – Volodymyr Zelenskyy

The press release issued by the President of Ukraine on 28 July 2022.

President Volodymyr Zelenskyy emphasizes that sanctions against Russia are an important element of helping Ukraine in the fight against full-scale Russian aggression, but even tougher steps are needed, and the Yermak-McFaul International Working Group is working on relevant proposals. This was stated by the Ukrainian Head of State during a conversation with media representatives after talks with the President of Lithuania Gitanas Nausėda.

“Sanctions are a great help from all European countries, which, after all, followed the path when they do not balance between Ukraine and Russia, but fully recognized the aggression of the Russian Federation and started the path of sanctions pressure. And it really helps a lot. Even if Russia says everywhere in the media that they do not have problems due to sanctions, it is not true,” Volodymyr Zelenskyy noted, answering the journalist’s question.

According to him, sanctions against the Russian Federation are effective, but not as fast as Ukraine would like.

“There are some moments when this or that business of individual countries of the world, due to the economic interests, does not want to lose ties with the Russian Federation and finds ways to circumvent sanctions,” the President of Ukraine noted.

Volodymyr Zelenskyy also emphasized the importance for all EU member states to adhere to a single position when introducing sanctions packages.

“Yes, we see weakening in the latest sanctions package. We want strengthening. But not all at once. The main thing is that the countries found a consensus, that most of the states managed to find an understanding with the minority of countries in Europe that did not want to apply the sanctions package or did not want to have such a tough package,” he said.

The Head of State emphasized that Ukraine expects tougher sanctions against Russia. This applies to the disconnection of the entire banking system of the Russian Federation from SWIFT and more decisive steps regarding energy, which Russia uses as a tool for blackmail. Proposals for sanctions against persons from the entourage of the President of the Russian Federation are also being developed.

“This is done by the Yermak-McFaul International Group. We pass it on through the Ministry of Foreign Affairs to our partners, to all countries. We are constantly working on it. Many different sanctions are proposed, as well as an analysis of those sanctions that do or do not work. There are also details of how, through whom specifically Russia wants to circumvent or circumvents certain sanctions,” Volodymyr Zelenskyy said.

For his part, President of Lithuania Gitanas Nausėda noted that a powerful sanctions policy is the tool that can make Russia’s war against Ukraine shorter, and its consequences for our country less destructive.

“There are many opportunities to increase sanctions. Sometimes there is a lack of the courage to disconnect all Russian banks from the SWIFT system. We need solutions that can reduce Europe’s energy dependence,” he said.