Sanctions gaps on Iran and North Korea undermine pressure on Russia - Presidential Advisor
Vladyslav Vlasiuk, Advisor and Presidential Commissioner for Sanctions Policy (Photo: Vitalii Nosach/RBC-Ukraine)
Vladyslav Vlasiuk, Presidential Commissioner for Sanctions Policy, in a comment to RBC-Ukraine, stated that non-compliance with sanctions targeting Iran and North Korea has weakened the impact of international measures against Russia.
"To be honest, Ukraine is facing the consequences of sanctions non-compliance, particularly regarding Iran and North Korea," Vlasiuk stated.
These two heavily sanctioned nations are reportedly assisting Russia in mitigating the effects of Western restrictions, reducing the anticipated impact of these measures.
"The situation turned out to be much more complicated than we hoped regarding the sanctions' effectiveness against Russia," Vlasiuk explained.
Vlasiuk also noted that the resilience of Russia’s economy and its population’s tolerance for hardship were underestimated.
Despite these challenges, he emphasized that sanctions have had a tangible impact on several critical sectors of the Russian economy.
"The more technologically advanced and complex the sector, the more severe the damage from sanctions. Aircraft manufacturing has ground to a halt. Machine-building is nearly non-existent, except for assembling Chinese cars. The woodworking industry has also nearly collapsed due to the closure of European markets," Vlasiuk said.
Sanctions against Russia
During the recent G7 meeting, member states unanimously identified Russia as Ukraine's primary obstacle to peace.
The United States announced an investigation into Russian clients of Switzerland’s largest bank. This followed changes after the acquisition of Credit Suisse, which intensified scrutiny of global asset management.
The UK, meanwhile, unveiled its largest sanctions package to date, aimed at dismantling Russia's "shadow fleet" of oil tankers.
