Kiev calls on the US and the West to launch an 'all-out attack' on this front, offering additional sanctions to thoroughly plug the loopholes.

More than 17,000 sanctions against individuals and organizations have been imposed against Russia since the start of the Russia-Ukraine conflict, costing Moscow at least $400 billion. Ukrainian Prime Minister Denys Shmyhal called it a “strong blow to Russia, but much more can and must be done.”

Tình hình Nga-Ukraine: Kiev kêu gọi Mỹ và phương Tây ‘tấn công tổng lực’ trên mặt trận này, hiến kế thêm đòn trừng phạt, rốt ráo bịt các lỗ hổng

In the context of the Russia-Ukraine conflict, Kiev considers 17,000 sanctions causing damage of about 400 billion USD as a strong blow to Russia, but not enough. (Source: weforum.org)

That was announced by Ukrainian Prime Minister Denys Shmyhal at a government meeting of the country.

Commenting further on the situation on both sides, Mr. Shmyhal noted that, in addition to receiving military, financial and humanitarian aid, Ukraine is also under increasing pressure from sanctions.

Referring to the fact that the US, UK and the European Union (EU) have recently launched new sanctions packages, the head of the Ukrainian government emphasized: "In particular, the US has expanded sanctions against Russia to include energy companies, enterprises producing microelectronics for the defense industry, banking and information technology, as well as Russian oil logistics."

The head of the Ukrainian government said that Britain’s partners had updated their sanctions list by 100 more posts, so pressure would be increased on those who want to help Russia evade restrictions on oil trade. The sanctions will also affect the diamond sector, copper, zinc, steel production, etc.

Meanwhile, Canada has designated another 163 people and organizations, including logistics companies, defense firms and influential experts. Australia and New Zealand have also joined the effort to weaken Russia.

"We are grateful to the EU for the 13th package of sanctions against Russia. The latest sanctions apply to arms and electronics manufacturers. Stricter export restrictions have been implemented, including for companies based in third countries," Prime Minister Shmyhal stressed.

On February 24, Ukrainian Ambassador to the United States Oksana Markarova also welcomed the latest package of US sanctions against Russia. The Ambassador also announced that Ukraine will continue to actively cooperate with the White House on the next package of sanctions against Russia, which could be launched soon.

Assessing the latest package of sanctions targeting more than 500 individuals and entities in various sectors of the Russian economy, Ambassador Oksana Markarova said, “This is a comprehensive package of sanctions. It covers not only a large part of Russia’s defense production, which is very important, but also largely targets those involved in this production – suppliers and those who serve the Russian defense industry.”

Ms. Markarova also said that the new US sanctions are a “hard blow” to the Russian financial sector, which includes sanctions not only against nine Moscow banks and investment funds but also the “Mir” payment system.

This is important in limiting Russia’s ability to finance its military deployment efforts, including by increasing its reserves and replenishing its arsenal, the diplomat said. In particular, Ukraine will continue to provide the United States with information on the activities of Russian financial institutions, in order to continue imposing sanctions on hundreds of other Russian banks.

Ukrainian Ambassador to the US Oksana Markarova also stressed the importance of maintaining and strengthening restrictions on the Russian energy sector, including in the context of oil price caps. It is equally important to identify and hold accountable those who assist Moscow in circumventing existing sanctions.

“We believe that sanctions are no less important than providing weapons and financial support to Ukraine,” the Ambassador stressed, assuring that Ukraine will cooperate with its US partners to achieve this goal “as actively as before.”

Meanwhile, summing up the effectiveness of sanctions against Russia since the Russia-Ukraine conflict broke out, according to the Ukrainian Prime Minister, 17,000 sanctions causing damage of about 400 billion USD are a strong blow to Russia, but "even more can and must be done".

According to Kiev's "suggestion", the US and the West should introduce sanctions against Rosatom, disconnect all Russian and Belarusian banks from SWIFT, restrict EU imports of Russian liquefied gas, gold, iron ore, titanium, aluminum, copper, nickel and palladium, and block Russian agricultural exports by banning EU member states from importing Russian agricultural products.

The most important thing is to reliably close all the loopholes that currently allow Russia to circumvent sanctions, Mr. Shmyhal added.

"Less profit for Russia means fewer missiles and drones flying to Ukraine, fewer losses in the front and in the back, and closer to a Russian-Ukrainian peace," the Ukrainian Prime Minister expressed his opinion.

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