Russia has lost at least $150 billion due to sanctions but still manages to maintain its military power, according to Vladyslav Vlasiuk, the Ukrainian president’s sanctions advisor, UkrInform reports.
On 10 May, Ukraine, France, Germany, the UK, and Poland proposed a 30-day unconditional ceasefire starting 12 May. In the event of refusal, Ukraine’s allies intended to impose tough sanctions on Russia. Russian troops have not stopped fighting. Still no measures have been introduced. However, if implemented, it is not clear whether they will force Moscow to end the war. The Ukrainian military and experts say Russia plans a spring-summer offensive on at least three fronts.
According to Vlasiuk, Russia is currently subject to the highest number of sanctions in the world, by a wide margin. Despite the severe economic blow, Moscow continues to sustain its military-industrial complex.
He acknowledges that the effectiveness of sanctions largely hinges on how quickly they are implemented. Harsher measures, he says, should have been introduced either after Russia recognized its illegal entities in Donetsk and Luhansk oblasts of Ukraine or in the early days of the full-scale invasion.
However, political and technical constraints at the time made this impossible.
Emphasizing the need to intensify economic pressure, Vlasiuk reveals that Ukraine recently submitted a two-page list of proposed sanctions to its international partners. The proposals target key Russian vulnerabilities, including:
- Restricting access to microelectronics
- Banning the use of the so-called “shadow fleet” used to evade oil restrictions
- Introducing new financial sector measures
Vlasiuk notes that the EU’s 17th sanctions package is nearly finalized but warned that work on the 18th must begin without delay. He also stresses that European leaders’ statements about increasing pressure on Russia are backed by active diplomatic coordination.
“Sanctions are indeed a way to strangle or suffocate a country’s economy,” Vlasiuk concludes.
Earlier, Ukrainian President Volodymyr Zelenskyy said he believes that the US has exerted more pressure on Ukraine than on Russia amid its peace push, not on the aggressor, which started the war.
He emphasizes that Ukraine is simply standing firm, defending itself, and “we’re not about to give up our lives and our land.” He called on Washington to apply more measures to force the Kremlin to the negotiating table.
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