November 18, 2024
Government

The Yermak-McFaul International Sanctions Group proposes effective new steps to strengthen energy sanctions

The Yermak-McFaul International Sanctions Group released a new working paper, “Next Steps on Energy Sanctions: Tools to Increase Pressure on Russia in 2025.””, — write: www.president.gov.ua

The Yermak-McFaul International Sanctions Group released a new working paper, “Next Steps on Energy Sanctions: Tools to Increase Pressure on Russia in 2025.”

It analyzes the results of the application of sanctions to Russian energy exports and provides recommendations on further increasing the sanctions pressure.

Experts insist on strengthening control over compliance with the price ceiling for Russian oil and adding more “shadow fleet” tankers to the sanctions lists.

“We see that the existing sanctions against the Russian energy sector are not enough. Revenues from the sale of Russian oil and gas continue to be used by the aggressor state to finance the war. We need stricter restrictions and more effective control over their compliance,” said Andriy Yermak, head of the Office of the President.

The document also analyzes the potential effect of lowering the marginal price for Russian oil. According to estimates, a price reduction of $10. USA per barrel will cause Russia to lose 17 billion dollars. export revenues for the year.

In addition, it is emphasized the need for the EU to completely refuse the import of both Russian oil and natural gas, as well as petroleum products from Russian raw materials that come to the block states from third countries.

No less important, according to experts, is the introduction of sanctions against Rosatom, which will allow Europe and the USA to finally get rid of their dependence on Russian nuclear fuel.

“The plan proposed by the International Sanctions Group is comprehensive, clear and effective. Our goal is to ensure that these proposals are adopted and implemented by as many countries as possible. This is exactly what we are working with our partners on every day,” concluded Vladyslav Vlasyuk, adviser to the President of Ukraine on sanctions policy.

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