Ukrainian Finance Minister Sergiy Martsenko today called for a full international embargo on Russian oil and gas over Moscow’s invasion of Ukraine, as the European Union’s 27 failed to reach an agreement on a third day. a package of sanctions against Russia, including the embargo on Russian coal products.
Marchenko told an online news conference that Ukraine was finding it difficult to balance its budget after 10 weeks of war, adding that as finance minister he could not be satisfied with the speed with which foreign aid was reaching. .
Insufficient sanctions have been imposed
Speaking about “insufficient sanctions imposed”, he said that the high price of oil and gas means that Moscow has a budget surplus and “feels quite comfortable.”
“The main issue is a complete embargo on the gas and oil market by the Russian Federation. “This is something that needs to be done and the Ukrainian authorities are actively working on it.” “This will make it possible to remove the possibility of financing the war.”
Regarding the state budget, the Minister of Finance of Ukraine said: “Right now we are not actually balancing the budget because our revenue at the moment, unfortunately, only covers 54% of our spending, excluding military spending.”
We will agree, says Von der Layen
Commission President Ursula von der Leyen said on Friday she was “confident” that the 27 would reach an agreement on new sanctions against Moscow. The major issue is the blockade of Russian oil and gas, as several countries consider this option “catastrophic” for their economies. The German head of the European Commission stressed that “we will reach an agreement, even if it takes one more day of discussions”.
“Atomic bomb” for Hungary, Orban emphasizes
Hungarian Prime Minister Viktor Orban, in a statement on Hungarian radio, described the embargo on Russian energy as an “atomic bomb” for his country. Instead, The Czech government spokesman said the talks were moving in the right directionclarifying, however, that his country will need at least two years to adjust to the new order of things that the embargo on Russian oil and gas will bring.
Von der Leyen said that the countries that will face the biggest problems will not be alone and that alternative solutions are already being sought in order to cover the problem and reduce the consequences.
Economic measures imposed by Washington and its European allies have curtailed Russia’s $ 1.8 trillion economy, and billions of dollars in military aid have helped Ukraine thwart Russia’s invasion effort.
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