Ukraine's President Zelenskyy signs decree to sanction Putin & other Russian officials

Ukraine's President Volodymyr Zelenskyy signed a decree enforcing a decision by Ukraine's National Security and Defense Council (NSDC) to impose personal penalties on Russian President Vladimir Putin. Asset freezing, a prohibition on export-import transactions, and the limitation of capital withdrawal from Ukraine are among the penalties enforced forever. The decree becomes effective the day it is published.

Dmitry Peskov, the Kremlin spokesman, Russian prime minister Mikhail Mishustin, foreign minister Sergey Lavrov, defence minister Sergei Shoigu, deputy prime ministers, ministers, and other officials were also targeted by the sanctions. The sanctions, implemented in the fourth month following Russia's February 24 invasion, looked unlikely to have much practical influence beyond symbolic significance.

Notably, Zelenskyy had pushed for a meeting with Putin in the early stages of the war, but the Kremlin dismissed the notion, claiming that their respective teams still had a lot of preparatory peace talks to perform. The peace talks have been halted, and Ukraine is urging the European Union to slap a seventh round of sanctions on Russia.

Sanctions pressure needs to be increased: Kuleba

Ukrainian foreign minister Dmytro Kuleba said on June 8, "Given that Russia seems to aim to fight in Ukraine to the last Russian, sanctions pressure, of course, needs to be increased."

The EU has issued six sets of sanctions against Russia since February, including targeted restrictive measures (individual sanctions), economic sanctions, and diplomatic sanctions. They are in addition to the sanctions imposed on Russia since 2014 as a result of the annexation of Crimea and the failure to implement the Minsk agreements. Belarus has also been sanctioned by the EU as a result of its involvement in the invasion of Ukraine.

The economic sanctions are intended to punish Russia severely for its conduct and effectively hinder Russia's ability to continue its aggression. On the other hand, individual sanctions are aimed at those who support, finance, or carry out actions that jeopardise Ukraine's territorial integrity, sovereignty, or independence, or who profit from such actions. The EU has sanctioned 98 companies and 1158 individuals in total, including prior individual penalties issued following the invasion of Crimea in 2014.

Image: AP