The international working group on sanctions against Russia, headed by the head of the Office of the President of Ukraine Andriy Yermak and the director of the Freeman-Spogli Institute for International Studies (FSI), Ambassador Michael McFaul, developed a new document “Measures to increase the effectiveness of sanctions”.
As reported by Ukrinform, it informs about this press service of the head of state.
It is noted that the developed document specifies specific ways to circumvent the sanctions imposed on Russia, and contains a call to increase the system of sanctions restrictions.
In particular, it is proposed to create a unified list of sanctions, a list of offenders, a control list of high-risk companies and individuals, a system of “traffic lights” to assess a country’s compliance with the sanctions regime, monitoring data on Russian trade and improved data sharing between allies.
It is noted that the sanctions against Russia have a great impact on its economy: the withdrawal of most Western companies from Russia, the destruction of entire sectors of the economy and production, the freezing of half of Russia’s international reserves and the inevitable loss of the main European markets for Russian oil and gas. At the same time, the catastrophic impact of the sanctions on the Russian economy was reportedly mitigated by high oil and gas prices, as well as existing exemptions and loopholes that allow them to be circumvented.
The document also proposes a more systematic approach to establishing boundaries for managing and regulating economic relations with Russia – the “Cold War 2.0” approach.
It is noted that this may involve the introduction of a special trade regime of the Russian Federation in order to minimize trade and block access to Western technologies, markets and finance until the transition to a peaceful foreign policy.
Yermak emphasized that the developed document is “another collective product of the working group, which has a real applied effect: all specific companies, sanctions circumvention schemes, conclusions indicated in the document are already being worked out by our partners.”
“We insist on strengthening the sanctions pressure and on introducing the most systemic restrictive approach to the regime of interaction with the terrorist country,” Yermak emphasized.
The report is reportedly structured around three main sectors: financial, energy sanctions and the military-industrial complex.
The analysis of the weapons of the Russian army in Ukraine shows the wide use of technological components produced in the USA, the Netherlands, Germany, Switzerland, Japan, China and Taiwan, the report says. In addition, the partial decision proposes imposing sanctions on specific Russian companies, as well as on companies that produce components.
The document also calls on Western economies to adopt more consistent and comprehensive sanctions, particularly on military enterprises, and to improve the wording of sanctions to close the loopholes that allow such trade.
The group also suggests that the sanctions coalition compile a list of violators (“blacklist”) of oil transporters, traders, financiers, insurers and providers of technical transport services that helped Russia avoid the oil embargo.
As reported by Ukrinform, the international working group on sanctions against Russia was created at the initiative of President Volodymyr Zelenskyi.
In April, the group presented a Sanctions Action Plan, which includes recommendations for the international democratic community regarding a set of further economic measures aimed at forcing the Russian leadership to end the war in Ukraine as soon as possible and maximizing the price of aggression for Russia.