Sanctions against Russian metallurgy need to be strengthened

Sanctions against Russian metallurgy need to be strengthened, as these companies also work for the Russian military-industrial complex, and the owners of these companies are oligarchs from Putin's orbit who finance his regime.

This was stated by Volodymyr Holovko, director of the Center for Political Analysis, RBC-Ukraine reports citing his speech.

"The President has recently stated directly that anti-Russian sanctions should be strengthened. It is unacceptable when sanctions are lifted against Russian oligarchs who finance Putin's regime! And I think these issues were raised in the closed part of the talks. Ukrainian diplomacy is now emphasizing that sanctions should be strengthened, including against metallurgical magnates," Golovko said.

According to him, it has just recently become known that the Magnitogorsk Iron and Steel Works is directly involved in the production of weapons and military equipment for the Russian military-industrial complex.

He also emphasized that simultaneously, work must be done to oust Russian products from world markets.

"The other day, the OSCE Parliamentary Assembly stated that Russia is committing genocide against the Ukrainian people. There are also issues related to the economic bloc, including the use of frozen Russian assets. I think that through such political instruments we should achieve results and urge our partners to impose direct sanctions," Golovko summarized.

As you know, the PACE called on the EU to strengthen sanctions against the Russian steel industry, because, despite all the bans, it continues to earn billions for the war. Through lies and blackmail, the Kremlin managed to extend quotas for Russian slabs for another four years, although they were supposed to expire in September 2024. This allows Russia to import more than €8 billion worth of products to the EU.

Author - Serhii Kolomiets, 02/07/2024