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The Ukrainian government believes that Russia is unprofitable to fight Ukraine, ...

Sanctions against Russia: Shmigal told what measures will stop the war

The Ukrainian government believes that Russia is unprofitable to fight Ukraine, if the event completely switches off the banks of the aggressor country from the SWIFT system, introduce a total energy embargo and cease to issue a visa to the Russians. Only complete isolation of the Russian Federation from the outside world will be able to stop the war in Ukraine and to strike a significant blow to Russia's military machine. The Prime Minister of Ukraine Denis Shmigal emphasized this.

According to him, Ukraine is waiting for further steps from Western countries to impose sanctions against the Kremlin. "It is necessary to completely disconnect all Russian and Belarusian banks from SWIFT, the introduction of a complete energy embargo, the prohibition of entry of ships under the flags of EU Member States to Russian seaports, as well as the termination of visas for Russian citizens," Denis Shmigal said.

The Cabinet of Ministers also noted that the sooner the EU and the G7 countries introduce such prohibitions and sanctions against Russia, the sooner it will be possible to complete this war. We will remind, on October 6, 2022 the Council of the European Union decided to introduce a new package of economic and individual sanctions against Russia in response to annexation by Russia of part of the occupied Ukrainian regions.

The new package is introducing new bans for imports from the EU worth 7 billion euros to limit Russia's income, as well as export restrictions. This will further deprive Russia of Russia's key components and technologies and will strike the economy of the aggressor country. The EU decision also opens the process of implementing the G7 agreement on oil embargo.