Yermak told what other sanctions should be applied to Russia

In his column for the Financial Times, he wrote about the decisions that need to be made right now on the plane of sanctions pressure.

We have already witnessed that after 2014 the sanctions imposed by the West did not affect influential people in Russia, as well as a number of sectors of the economy. Eight years later, we got Russia's brutal aggression against Ukraine, - wrote Yermak

Sanctions, which, according to the Head of the Office of the President, should be included in the next package:

✅ Therefore, the strengthening of sanctions should cover the financial and energy sectors, as well as affect more state officials and businessmen. The Kremlin's plans will be difficult to disrupt unless Ukraine's allies and partners go further and take tough measures that will undermine Russia's ability to finance the war.

✅ The West should impose an oil embargo to hit Russia's ability to finance aggression.

✅Transport companies, especially maritime operators, and insurance companies that support Russian energy exports should fall under sanctions. Only a complete energy embargo will have the necessary economic and psychological impact on the Kremlin's decision-making. The West must prove that it will no longer tolerate russia's imperial ambitions, despite the short-term domestic costs.

✅The democratic world must also impose new and strengthen existing financial sanctions. They should apply to all Russian banks - starting with Gazprombank - and their subsidiaries and front companies in Russia and abroad.

Secondary sanctions should be imposed on entities that circumvent this regime or otherwise contribute to Russian aggression. We must expand export controls on strategically important high-tech products, especially oil and gas production. Together, the new financial and energy sanctions will drastically reduce Russian revenues.

✅We should also target the Russian state structure that ensures the criminal activities of the Kremlin and individuals involved in the war. The list of individuals on whom sanctions should be imposed should be expanded to include immediate family members who own their assets.

✅ All civil servants above a certain rank, as well as the heads of state enterprises, including their board members, both Russian and foreign, should be added to the sanctions list.

✅ Also, the West must find ways to use confiscated Russian assets to rebuild Ukraine after the war. For example, the frozen reserves of the Russian central bank, which are estimated at hundreds of billions of dollars, could be much needed for the postwar reconstruction of Ukraine. Translated with www.DeepL.com/Translator (free version)