MOSCOW (Pakistan Point News / Sputnik - 01st June, 2022) Ukrainian Finance Minister Sergii Marchenko said on Wednesday that Western sanctions against Russia have little impact on its economy and this is unlikely to change anytime soon unless tougher restrictions are applied.
"The objective reality is that anti-Russian sanctions have too mild impact on the Russian economy and budget � just look how quickly the ruble has recovered. Therefore, I do not believe that anti-Russian sanctions will take effect in six months or even later," Marchenko told Ukrainian business news website mind.ua.
The Ukrainian finance minster considers it unfair that Kiev loses 300 million Euros ($321 million) per day, while Moscow earns 1 billion euros during the same time.
Marchenko believes that Ukraine should encourage West to impose more severe sanctions against Russia and ban its exports completely, including oil and gas.
The Ukrainian minister also called on Western countries to impose sanctions against all Russian businesses, which he said "continue to maintain their power by paying taxes."
On February 24, Russia launched a military operation in Ukraine after the breakaway republics of Donetsk and Luhansk appealed for help in defending themselves against Ukrainian forces. In response, Western countries and their allies have rolled out a comprehensive sanctions campaign against Moscow. The European Union has already introduced five packages of sanctions and has agreed the sixth.
Russian President Vladimir Putin said in March that weakening Russia was a long-term strategy of the West, adding that its sanctions had dealt a serious blow to the entire global economy.
