Politics 2022-08-15T04:06:36+03:00
Ukrainian news
Anti-Russian sanctions do work, so they must be toughened – Yermak

Anti-Russian sanctions do work, so they must be toughened – Yermak

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Russia's default demonstrates that anti-Russian sanctions are working and need to be toughened in the future.

Head of the Presidential Office Andrii Yermak wrote about this on Telegram.

He added that the sanctions blocked the ways of payments to foreign creditors.

"At the end of June 26, the grace period for paying interest in the amount of about USD 100 million, which was due before May 27, ended. If it is missed, the deadline is considered a default. Sanctions are needed against the entire banking system of the Russian Federation. Now it is important to do this," Yermak concluded.

As Ukrainian News Agency reported, Russia defaulted on its sovereign foreign-currency debt for the first time in a century, the culmination of increasingly harsh Western sanctions that cut off the path of payments to foreign creditors.

On April 7, Russian Prime Minister Mikhail Mishustin said that the Russian Federation is going through the most difficult situation in the last three decades due to Western sanctions.

 

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