Intl working group develops proposals for further strengthening anti-Russian sanctions

An international working group of Ukrainian and international experts has developed a plan for strengthening anti-Russian sanctions, including new financial restrictions, expanding sanctions on Russian energy resources, and others.

"Our aim was not to produce a consensus document, but instead to provide a comprehensive menu of possible additional measures to be considered by governments, multilateral institutions and private actors," the working group said in the submitted paper.

Proposals include, in particular, a complete embargo on Russian oil, oil products, gas and coal, to ban both import and export flows to and from the democratic world. If such a decision is not taken immediately, experts propose a number of intermediate restrictions. Particularly, to establish significant special duties, tariffs or taxes on the import of Russian crude oil and condensate, to introduce payment mechanisms for the supply of Russian energy resources to escrow accounts, where the funds will be blocked until the end of the war.

In addition, experts propose to deepen financial sanctions against Russia. In particular, to ban the SWIFT system for all, and not some Russian banks. It is also proposed to start a new wave of sanctions against the top 30 banks and financial institutions, including Gazprombank, Bank of Moscow, Rosselkhozbank, Transcapitalbank, Bank Trust, Rosbank, Tinkoff Bank and Tochka, and next on critical financial infrastructure facilities, including the Moscow Exchange.

Experts also believe that work should be done to expand individual sanctions. In their opinion, all Russian citizens who hold high public positions, such as the rank of Deputy Minister or higher in the Russian government, are members of the board of the Central Bank of Russia or the National Bank of Belarus, or hold an equivalent rank in the security service, should be subject to sanctions. judges, as well as the closest relatives of the listed categories.