Ukraine working on oil and gas embargo mechanisms for Russia – Yermak

16:29, 12.04.2022 1 min read

The Ukrainian side is working on creating a sanctions model that will stop Russian aggression and destroy the Russian Federation economically, Andriy Yermak, head of the President's Office, has said.

"Our main goal is an embargo on energy. If we are talking about an oil embargo, then a ban on the purchase of Russian resources is possible. There is also a model according to which funds for supplied oil will not go to the Russian budget, but remain in special accounts until Russia stops its aggression and fulfills all the conditions," Yermak wrote on his Telegram channel.

Thus, he said, the financing of the war with Ukraine will become impossible for the Russian Federation.

A similar model, known as "Iranian," applies to gas deliveries.

"Currently, the EU is developing the sixth package of sanctions. And we are working with our partners so that they understand the need for these steps," Yermak said.