To get the economy of the Russian Federation: the media told how allies of Ukraine want to strengthen sanctions against the Kremlin
The key goal is to close the loopholes in existing restrictions and solve the problem of bypassing the sanctions in general, writes Bloomberg. The international community believes that rigid sanctions against the Russian Federation for invasion of Ukraine have shaken the positions of the Russian economy, but have not inflicted a devastating blow. This allows Vladimir Putin to continue the invading war against Ukraine.
In addition, the Kremlin's income may soon exceed its target level, even in the face of limiting oil prices. This government in Moscow manages to stabilize the budget even with the conditions of a sharp increase in military expenditures. New plans of the US, EU and other allies of Ukraine are expected to be presented during a meeting of the Great Seven leaders in Japan at the end of May 2023.
It is emphasized that since a number of trade and financial sectors of Russia have already fallen under sanctions, finding new areas that significantly limit Moscow's ability to finance their war is quite difficult. According to officials, a new package of restrictive measures will be focused on loopholes in the sanctions already introduced. For example, a ban on the transit of many goods through the territory of Russia and measures against courts that disconnect navigation systems is discussed.
According to sources, the US and Japan are developing their own restrictions. The Canadian Government is working on human rights measures, including the intended theft of Ukrainian children and sanctions on the Russian military industry. The Great Seven leaders are expected to make progress in the tracking mechanism of Russian diamonds across borders, which can eventually lead to restrictions on this trade.