Zelensky enacts sanctions against Russia’s financial sector

The President announced the move in his evening video address, Ukrinform reports.

“Today, I signed documents concerning sanctions. One is a decree imposing sanctions on Russia’s financial sector, targeting 140 different entities,” Zelensky stated.

[embedded content]He emphasized that Ukraine would continue to work with its international partners to align and enhance this pressure.

Zelensky also initiated a draft law to establish criminal liability for attempts to circumvent sanctions. He explained that this aligns with international practices for enforcing sanctions.

“We all understand that the more pressure we exert on the aggressor, the closer we bring peace. Sanctions are one of the most effective tools for justly pressuring Russia and everyone associated with it or working for the war,” the President underscored.

The proposed legislation will be submitted to Ukraine’s Verkhovna Rada.

As reported by Ukrinform, according to Oleksandr Merezhko, Head of the Parliamentary Committee on Foreign Policy and Inter-Parliamentary Cooperation, the introduction of secondary sanctions against states and companies that facilitate the circumvention of international sanctions on Russia is an effective mechanism for exerting pressure on the aggressor and its economy.