McFaul-Yermak Group's sanctions plan against Russia 45% implemented

McFaul-Yermak Group's sanctions plan against Russia 45% implemented

So far, 45% of the McFaul-Yermak Group's action plan to strengthen sanctions against the Russian Federation has been implemented.

"Forty-five percent of the sanctions action plan of the McFaul-Ermak Group has already been implemented," Head of the Office of the President of Ukraine Andriy Yermak posted on Telegram, Ukrinform reports.

Yermak specified that several aspects of the EU sixth round of sanctions against Russia had been proposed by the McFaul-Yermak Group.

In particular, it is a ban on offshore oil imports from Russia. Thus, by the end of the year, the consumption of aggressor's energy is expected to drop by 90%. In addition, Sberbank, two other Russian banks, and one Belarusian bank were cut off from SWIFT.

"The EU and the UK banned the insurance of ships carrying oil. Individual restrictive measures were imposed on Putin's entourage, including Alina Kabayeva.

Read also: President Zelensky signs decree on sanctions against Putin

Allies also imposed restrictions on Putin's yachts and planes and banned many high-tech goods and production equipment," he added.

The group continues to work as there is a lot of work ahead, Yermak stressed.

Read also: Yermak-McFaul group presents roadmap for individual sanctions against Russia

As reported, an international working group on drafting sanctions against Russia was set up on the initiative of President Volodymyr Zelensky.

The group is led by Andriy Yermak, Head of the President's Office, and Michael McFaul, Director at the Freeman Spogli Institute for International Studies, former US national security adviser.

In April, the group presented the sanctions action plan containing recommendations for the international democratic community on a set of further economic measures aimed at forcing the Russian leadership to end the war in Ukraine as soon as possible and maximize the cost of aggression for Russia.

The plan focuses on 10 key areas of sanctions policy, including the recognition of Russia and Belarus as states sponsors of terrorism, and the Russian Armed Forces as a terrorist organization; a complete ban on Russian energy imports; expansion of sanctions against the financial sector of Russia and Belarus; strengthening transport and insurance sanctions; expanding and strengthening trade embargoes and personal sanctions.

On May 10, the group presented the second developed document – the roadmap for energy sanctions.


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