Zelensky asked Biden to ratchet up economic pressure on Moscow, increase sanctions
Friday to end normalized trade relations with Russia. But he also requested that Biden seek to close loopholes in the existing sanctions, significantly broaden the list of sanctioned Russian government officials and restrict Russia’s access to international waterways, the people familiar with the matter said.
Zelensky’s request reflects the increasingly difficult challenge facing the White House as it tries to enact severe financial penalties on Russian President Vladimir Putin without causing too much damage to the global economy. “The reality is that the Russian army invading Ukraine right now can operate because of the taxes many [international] companies are paying to the Russian budget, which is paying for the killing spree in Ukraine at the moment,” Sviatoslav Yurash, a member of Ukraine’s parliament, said in an interview.
Ariel Cohen, a senior fellow at the Atlantic Council Eurasia Center and a member of the Council on Foreign Relations, said a ban on Russian ships in certain ports and channels could lead them to “reflag” — to change the registry of the ship to be under another country — though such a move is likely to be “insignificant in the overall picture in Russian economic activity.”
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