Sanctions Working: FM Sybiha Urges Allies To Maintain Pressure On Russia

(MENAFN- UkrinForm) Ukrainian Foreign Minister Andrii Sybiha said this in an interview with Ukrinform.

“It is also important not to pause sanctions policy: rather than waiting for new packages to be adopted, sanctions should be imposed continuously, in a targeted, focused and sector-specific manner, because this is producing results. Whatever Russia may say, sanctions are working, and we know that. They will gradually have a critical impact on the Russian economy. Even if the Russians circumvent sanctions, even if they adapt, this still hurts any economy – all the more so the economy of a country waging such aggression,” the Foreign Minister stressed.

According to Sybiha, Ukraine is proposing tougher restrictions on Russia's“shadow fleet,” including a complete ban on maritime services and sanctions against the captains of such vessels.

“This is also a very sensitive issue. We know that many captains refuse to work on shadow fleet tankers because doing so poses a serious reputational risk. We will continue working in this area,” Ukraine's top diplomat said.

Kyiv is also calling for a ban on the transit of Russian grain and other agricultural products through Europe, including Baltic ports, as well as further restrictions on Russian banks' access to the SWIFT system.

“Russia still uses SWIFT, and Russian banks need to be disconnected from the system to the greatest extent possible. It is important to keep up the pressure on Russia to ensure that these sanctions have a truly shocking and devastating effect. There is still room to do more,” Sybiha said.

He stressed that sanctions pressure must raise the cost of Russia's continued aggression. According to Ukrainian estimates, the war costs Russia about $1 billion a day.

“Putin understands only strength. To seriously force him to negotiate, pressure is needed, and the cost of continued military action must be raised,” the minister said, citing sanctions, the use of frozen Russian assets, international isolation and restrictions on access to technology as tools of such pressure.

Sybiha recalled that an EU sanctions package covering around 1,600 individuals and legal entities was adopted at a meeting of EU Foreign Ministers in Luxembourg. He said particular attention was paid to Russia's defense industry and efforts to counter sanctions evasion.

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The Ukrainian Foreign Minister also criticized the decision to remove Russian oligarchs Alisher Usmanov and Mikhail Fridman from the EU sanctions list. Ukraine, he said, will seek to have both men reinstated and is proposing sanctions against more than ten other Russian oligarchs linked to Russia's military-industrial complex and Putin's inner circle.

Sybiha added that the United Kingdom had assured Ukraine it intended to maintain sanctions against Usmanov and Fridman. He emphasized that Kyiv would continue working with its partners to strengthen and expand restrictions against Russia.

As Ukrinform reported, the Council of the EU adopted additional restrictive measures against 1,569 individuals and entities linked to Russia's military-industrial complex.

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