"Will reduce export revenues by 70-80 billion dollars": McFaul-Yermak group proposed sanctions against Western companies in Russia and "shadow fleet", embargo on uranium, aluminum and steel, and confiscation of Russian assets
Kyiv • UNN
The McFaul-Yermack Sanctions Group presented the Action Plan 3.0, proposing measures such as confiscation of frozen assets of the Russian central bank, increased enforcement of oil price ceilings, a full embargo on Russian uranium, aluminum and steel exports, sanctions against Western companies operating in Russia, and equating tax payments to Russia with bribery to undermine Russia's economic and military capabilities to halt its aggression in Ukraine.
The McFaul-Yermak Sanctions Group presented Action Plan 3.0 on sanctions against Russia, proposing measures such as confiscation of frozen assets of the Russian central bank, increased control over compliance with the oil price ceiling, a complete embargo on Russian uranium, aluminum and steel, sanctions against Western companies operating in Russia, and equating tax payments to Russia with bribery, said the head of the Presidential Office, Andriy Yermak, on May 16, UNN reports.
Details
Presented by the McFaul-Yermack sanctions group, the new Action Plan to further increase sanctions pressure on Russia - Action Plan 3.0 - contains specific steps that could significantly undermine Russia's economic and military potential to end its aggression in Ukraine as soon as possible.
We expect that the package of restrictions will reduce the export revenues of the aggressor country by 70-80 billion dollars annually, will cause a significant deficit in foreign trade and the budget of the Russian Federation, and will weaken its currency and overall economic stability
Among the proposed measures is the confiscation of the frozen assets of the Russian central bank, which should be used for military and economic support for Ukraine and its reconstruction.
As well as strengthening control over compliance with the oil price ceiling and combating the shadow tanker fleet.
It is proposed to introduce a full embargo on uranium, aluminum and steel and to resume the work of the Coordinating Committee on Multilateral Export Controls to enforce the ban on exports to Russia of critical technologies, equipment and components used in the defense sector and the oil and gas complex.
In addition, it is proposed to impose sanctions on Western companies involved in Russian logistics operations and facilitating the evasion of restrictions, in particular, the payment of taxes in Russia is proposed to be equated with bribery.
The document also emphasizes the recognition of Russia as a state sponsor of terrorism and the strengthening of control over compliance with existing sanctions.
