Prime Minister of Ukraine Denys Shmyhal believes that Russia's default is becoming a matter of weeks, but not months.

"The ports of all EU countries have suspended the service of Russian ships. Also, the countries of the European Union are finally starting to discuss the oil embargo and tightening sanctions against Sberbank. These decisions are needed as soon as possible. These decisions will help stop the war. Russia's default is becoming a matter of weeks, but not months," Shmyhal said.

The prime minister stressed that the authorities talk daily with partners about the importance of further pressure on Russia.

"And I am sure that this economic and financial pressure will continue," the official added.