Yermak announces sanctions forum in Kyiv

"Within the framework of this event, we will continue to work on improving restrictive mechanisms against the terrorist state that has challenged the entire international community. I invite you to join its work," Yermak said, addressing the meeting of the Sanctions Coordinators Forum in Brussels via video link, the President’s Office informs.

Yermak pointed out the need to continue to deprive Russia of the opportunity to continue its war of aggression against Ukraine. He expressed the belief that the joint policy of economic pressure on Russia is working.

"Sanctions are an effective tool in confronting the aggressor country. They deprive Russia of money to continue the war and weaken its military power," said the Head of the President’s Office.

He thanked all partners for their work on the sanctions track over the past year, adding that joint efforts made it possible to reduce Russia's oil and gas revenues and significantly weaken its military and industrial potential.

Yermak also praised the initiatives related to sanctions against Russian propagandists. He noted that the effectiveness of sanctions depends on synchronization, systematic nature, determination, and creativity in their imposition and implementation.

According to the Head of the President’s Office, the potential of certain sanctions mechanisms is not exhausted, and these mechanisms require additional implementation efforts.

Further sanctions should affect Rosatom as this company is directly involved in acts of aggression and blackmail. It is also necessary to deprive the Russian Federation of revenues from the diamond trade.

"Russia is actively working to avoid isolation. The terrorist state is reorienting its producers to new markets. It changes logistics routes. It engages third countries as intermediaries to ensure trade operations," Yermak said.

He added that the Yermak-McFaul International Expert Group is working on new formats for monitoring compliance with sanctions and a new plan to strengthen sanctions restrictions on Russia.