Not all sanctions imposed on Russia's economy are sufficient or effective – Presidential Office

Not all sanctions imposed on Russia's economy are decisive, sufficient, or effective.

Ihor Zhovkva, Deputy Head of Ukraine's Presidential Office, said this in an interview with TSN, Ukrinform reports.

"Unfortunately, not all of the sanctions imposed even on Russia's economy are sufficient, effective, and decisive," he said.

Zhovkva noted that Ukraine is aware of sanctions imposed on certain countries, again by the United States, which, in particular, have made it impossible or more difficult to export Russian raw materials to those countries.

"We see that, albeit slowly, these processes are underway. We know about the decline in Russia's GDP and the growing budget deficit. All these processes are objective and ongoing. When will they produce some effect? Forecasting is a thankless task," he said.

He added that sanctions against Russia's banking system also need to be tightened.

"It is still under-sanctioned, as is Russia's nuclear sector. Unfortunately, there is inertia. That is why we are not speaking only about European sanctions packages," Zhovkva said.

He recalled that earlier there was a very effective outcome when U.S. sanctions (against Lukoil and Rosneft – ed.) were imposed simultaneously with the EU's 19th sanctions package.

"To ensure that this synergy is repeated this year, we will work with European and American partners, other countries, the United Kingdom, and Japan. When this is synchronized and each such sanctions blow is painful and joint, then what you are asking about [ending the war] may happen faster," he said.

Photo: Presidential Office