Intl working group on sanctions against Russia presents draft measures to secure ceasefire
The day before, the international working group on sanctions against Russia presented working document No. 23 New sanctions to force Russia to agree to a ceasefire in Ukraine, which included proposals for additional sanctions against the energy and financial sectors.
"In particular, the emphasis is on the need to finally stop buying Russian energy resources, which means continuing the fight against the shadow fleet and oil super-profits. We are talking about imposing sanctions against the remaining tankers of the shadow fleet and related infrastructure," the presidential press service said.
It is also proposed to create an "escrow" mechanism, a conditional storage account to block Russia's revenues from energy exports, which provides that the funds will be held in a special bank account.
In addition, the group proposes to introduce secondary sanctions and tariffs against countries that continue to buy Russian oil, and a phased embargo on Russian ports and energy infrastructure.
"Recommendations on the financial sector concern restrictions on the activities of all Russian banks, strengthening control over the circulation of cryptocurrencies and introducing personal sanctions against officials of the Ministry of Finance, members of the Central Bank's board and heads of major state-owned banks who support Russia's invasion of Ukraine," the report reads.
The document proposes to strengthen control over the export of critical goods and equipment, expand the list of relevant categories of goods, introduce end-user verification and prevent circumvention of restrictions through third countries.
"This package of proposals is a roadmap for the European Union and the G7 on how to really enhance pressure on Russia. The priorities are obvious: an accelerated cessation of purchases of Russian energy resources, closing of circumvention schemes through the shadow fleet and third countries, tighter control of financial channels. The key is to act quickly and in a coordinated manner while the Kremlin's revenues are falling. Every month of delay means billions of dollars for the war against Ukraine," co-chair of the group, Head of the President's Office Andriy Yermak said.
