(MENAFN- UkrinForm) As reported by Ukrinform, the President of Ukraine announced this during a briefing.

“We understand that these [sanctions imposed against the Russian Federation] could lead to a Russian budget deficit of up to $100 billion next year. We have various analytical estimates: some are around $100 billion, which is a more skeptical assessment, while the Ministry of Foreign Affairs provides a more positive forecast for us - around $130 billion,” Zelensky said.

He emphasized that it is crucial for the countries that continue purchasing Russian energy resources to reduce these volumes or completely stop trading with the aggressor state.

“For example, China imported [energy resources from Russia] worth $120 billion per year... Because it is the biggest player, a helper in this war. That's a fact. $120 billion is a serious figure,” the President noted.

According to Zelensky, Ukraine's supporters are those countries that have reduced their imports from Russia.

“Canada, the United Kingdom, Australia, Japan - these are our key partners that have minimized or reduced imports from Russia to zero. Those that have increased imports are India, China, Türkiye, and the countries of Central Asia. This is something we need to address, and we have a clear vision of how to do it,” the President stressed.

He also expressed hope that once new U.S. sanctions take effect - scheduled for November 20 - partners will not seek exemptions.

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“We know that Hungary is working to secure an exemption and continue importing. This is an important issue, and we will also be addressing it,” Zelensky said.

According to the President, it is essential to limit Russia's financial capabilities to deprive its military budget of funds for the war.

“According to our data, they are counting on a military budget of $210 billion next year. We can see - from both the Security Service and Foreign Intelligence Service - where they plan to increase spending, and we must work to ensure they fail,” he said.

The President added that Russia aims to ramp up the production of drones, particularly FPV and others, as well as to increase the number of guided aerial bombs.

However, according to Zelensky, Russia currently lacks the capacity to realize these plans.

“We can see that they want to increase the production of 122 mm and 152 mm [Kalibr missiles], meaning artillery and mortars, to a total of 8 million. It was 7 million last year, but we are not afraid of this large number,” Zelensky stated.

As reported earlier, on October 23, the U.S. Department of the Treasury announced sanctions against major Russian oil companies Rosneft and Lukoi, calling on Moscow to immediately agree to a ceasefire in Ukraine.

President Volodymyr Zelensky noted that Russia's losses from these sanctions alone would amount to no less than $50 billion per year.

On October 23, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas announced that the European Union had approved the 19th package of sanctions against Russia for its ongoing full-scale invasion of Ukraine.

Photo: Office of the President

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