Kyiv: Ukrainian President Volodymyr Zelenskyy emphasised the role of sanctions in weakening Russia’s war efforts, lauding the US’s recent introduction of “highly effective” sanctions targeting Russia’s banking sector.
Zelenskyy said further that while these measures significantly weaken Russian President Vladimir Putin’s regime, more needs to be done.
The United States on November 21 imposed sanctions to curtail Russia’s use of international financial system.
Sharing a post on X on Monday, Zelenskyy wrote, “Sanctions are equally vital. This week, the US introduced new, highly effective sanctions targeting Russia’s banking sector. These measures significantly weaken Putin’s regime.”
He added, “However, more is needed–Russia must lose its capacity to fund the war every single week. No matter how extensively Russia resorts to blackmail, the world must remain resolute. Only by maintaining pressure can we bring true peace closer.”
The Ukrainian President also spoke about the defence packages provided by Denmark, the United States, Germany, Canada and expressed his gratitude for the aid.
He said, “This week brought several new defence aid packages for Ukraine. Denmark has allocated approximately 1 billion kroner, and the funds will be directed toward supporting our defence industry. Norway has prepared an initial tranche following the Danish model to bolster weapons production in Ukraine. Similarly, Sweden is joining the financing efforts under this model.”
“The United States has provided a USD 275 million package, which includes HIMARS ammunition, Javelins, drones, and mines–critical supplies for defending positions, particularly in the Donetsk region. Additionally, there is a new package from Germany and a NASAMS system from Canada. We are deeply grateful for each such step,” the post added.
Notably, a press statement issued by US State Department Spokesperson Matthew Miller on November 21 said, “The United States is today imposing sanctions on 118 individuals and entities that operate in Russia’s financial services sector and support the Kremlin’s war effort. These targets include Gazprombank, Russia’s largest remaining bank not previously blocked by the United States, dozens of additional Russian banks still maintaining ties to the international financial system, and individual Russian banking officials. The Department of the Treasury is also issuing an alert describing sanctions risks related to joining Russia’s System for Transfer of Financial Messages, which the Kremlin created and uses to evade sanctions.”
The statement further said that the action reaffirmed the US commitment to curtail Russia’s ability to use the international financial system to conduct its war against Ukraine and disrupt Russia’s attempts to make cross-border payments for dual-use goods and military materiel.
“We will continue to take all appropriate actions to promote accountability for those who enable or profit from Russia’s illegal war,” the statement added.
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