Yermak Announces Sanctions Forum in Kyiv

Head of the President's Office of Ukraine Andriy Yermak said a sanctions forum will be held in Kyiv to improve the sanctions policy against Russia.

"As part of this event, we will continue to work on improving restrictive mechanisms against the terrorist state that has challenged the entire world community. I invite you to join its work," Yermak said during an online speech at a meeting of the Sanctions Coordinators Forum, which takes place in Brussels, according to the President's Office press service on Feb. 23.

He also noted the need to continue to deprive Russia of the opportunity to continue an aggressive war against Ukraine. He is convinced that the general policy of economic pressure on Russia is producing results.

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

He thanked all partners for their work on the sanctions track over the past year. According to him, joint efforts have reduced Russia's oil and gas revenues and significantly weakened its military-industrial potential. Separately, the head of the President's Office noted initiatives related to sanctions against Russian propagandists.

At the same time, Yermak said the effectiveness of sanctions depends on synchronicity, consistency, decisiveness and creativity in their implementation and implementation. In addition, the potential of individual sanctions mechanisms has not been exhausted, and these mechanisms need additional efforts to implement them.

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He expressed his conviction that further sanctions should apply to Rosatom, since this company is directly involved in acts of aggression and blackmail. It is also necessary to rid Russia of income from the diamond trade.

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

Yermak also said the Yermak-McFaul International Expert Group is working on new formats for monitoring compliance with sanctions and a new plan for tightening sanctions restrictions against Russia.