The expert level event, aimed at determining the impact of the already imposed sanctions on Russia and outlining the guidelines for extending the sanctions pressure on the terrorist state, was organized by the Government of Ukraine, the Yermak-McFaul International Working Group on Russian Sanctions, and Kyiv School of Economics.
Minister of Economy of Ukraine Yulia Svyrydenko, who chairs the Interdepartmental Working Group on the implementation of sanctions policy (IWG), addressed a conference in Kyiv. She briefed the participants on the results of work of the IWG established by a Government decision in late August.
“During the four months of the IWG’s work, the National Security and Defense Council adopted and the President of Ukraine imposed sanctions against 3,134 individuals and 1,374 legal entities. Most of them were preliminary reviewed by the IWG. At the same time, during the period from the beginning of the large-scale invasion till the launch of the IWG sanctions against 534 entities – 298 individuals and 236 legal entities – were adopted and enforced by presidential decrees. Thus, in general, since the launch of the IWG, the effectiveness in this area has increased more than eightfold. As Volodymyr Zelensky said, sanctions are a powerful weapon, a weapon without blood, a humane, economic and modern weapon. Therefore, the pressure on the terrorist state must constantly increase,†said Yuliia Svyrydenko.
The IWG is working in close coordination with the Yermak-McFaul International Working Group. And also in constant dialogue with the allies of Ukraine. The key issues of focus are information exchange, mirroring of sanctions, parallel elaboration of new sanctions.
Professor of Political Science at Stanford University, Ambassador Michael McFaul, who joined the Conference online from the United States, noted that the key goal of the sanctions policy is to accelerate the end of the war. So, as long as the war continues, the sanctions pressure should increase.
According to Michael McFaul, the goal is to put an end to the barbaric invasion of Russia as soon as possible. Looking at what was the starting point in terms of sanctions restrictions at the beginning of the war, it becomes clear that things that seemed impossible and insane back in March have been achieved. However, sanctions must continue. Every day that putin illegally occupies Ukraine with his troops – every day there should be a sanctions blow in response.
It should be noted that the IWG, chaired by Yuliia Svyrydenko, reviewed and recommended to submit for consideration of the National Security and Defense Council (NSDC) sanctions against more than 6,000 persons. These are representatives of the Russian military-industrial complex, Russian authorities, military leadership, banking sector, clergy, propagandists, athletes and others. The IWG also reviewed and recommended to submit to the NSDC proposals on sectoral sanctions against financial institutions of Russia and Belarus.
“I am convinced that sanctions pressure will be one of the key factors of Ukraine’s victory and will cause an irreparable blow to the economy and technological development of Russia. For many years it will make impossible any threat to the civilized world from Russia,†concluded Yulia Svyrydenko.
