Ukraine is calling on its allies to take bolder action in imposing sanctions on Russia, including targeting banks that provide financial services to serving soldiers. Vladyslav Vlasiuk, an adviser to President Volodymyr Zelenskiy’s chief of staff, urged allies not to fear that a tougher sanctions clampdown could drive some countries closer to Russia. He singled out three lenders – Gazprombank, Tinkoff Bank, and Rosselkhozbank – whose banking cards had been found on dead or captured soldiers on the battlefield in eastern Ukraine.
Vlasiuk also called on allies to tighten sanctions on banks and close loopholes in the sanctions regime. He criticised threats from neighbouring Hungary to block new EU sanctions and military aid unless Kyiv removes Hungarian bank OTP from its list of war sponsors. He was encouraged about movement towards sanctions on Russia’s diamond industry but was more pessimistic that countries would fall into line with a U.S.-led push to widen the scope of sanctions of traded goods with Russia.
Ukraine is hoping that its allies will take bolder action in imposing sanctions on Russia and close the loopholes in the sanctions regime. This would be a significant step in preventing Russia and companies in third countries from circumventing sanctions imposed after Moscow’s invasion of Ukraine last year.