Minister of Foreign Affairs of Ukraine Dmytro Kuleba declares the need to stop financing the Russian ruling regime by continuing to purchase energy resources in the Russian Federation.

"We appreciate the sanctions that have already been imposed. Some of them are especially helpful as they strategically undermine Russian stability or have already made it impossible for Russia to produce more modern weapons because of the sanctions. But as long as the EU continues to buy Russian oil and gas, Putin's pockets [Russian President Vladimir Putin] will be full," Kuleba said at a discussion at the Ukrainian House in Davos on Wednesday.

The Foreign Minister pointed to the need to stop buying oil and gas from the Russian Federation and impose sanctions against the maritime industry that transports Russian oil and gas. Kuleba stressed that if the maritime industry receives a clear signal that the transportation of Russian raw materials and goods should not take place, "the Russian economy will suffocate."

"And then Putin will feel the difference. It's simple. And the global economy won't suffer as much as some claim. But it's the only way to really put Putin in an economically vulnerable position. At the moment, he feels safe enough, because his pockets are full of money, and oil prices continue to rise," Kuleba said.