Estonian Foreign Minister Margus Tsahkna called on the European Union to intensify work on a new package of restrictions against the Russian economy. He made the corresponding statement on the eve of the EU Foreign Affairs Council meeting scheduled for Thursday, January 29, emphasizing the need to increase pressure on the aggressor. This is reported by UNN.
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Tsahkna supported his call with data on the deteriorating state of the Russian economy, which is now facing stagnation, high inflation, and a rapid depletion of the National Wealth Fund's liquid assets. The minister noted that last month, Russia's oil and gas revenues fell by 22%, reaching their lowest level since the beginning of the full-scale invasion, which confirms the effectiveness of previous sanctions steps.
The conclusions are very clear. Sanctions are working – and we must hit the Russian economy even harder by quickly adopting the 20th package of EU sanctions. This will be my key call tomorrow at the Foreign Affairs Council
He is convinced that the new package should be another blow to the Kremlin's ability to finance its war machine.