How else will the West push Russia. The West's plans for new sanctions became known

This was written by the Head of the Office of the President Andriy Yermak.

The document contains an analysis of the impact of previously imposed restrictions on the Russian financial system, a list of recommendations for increasing pressure on the aggressor state and a risk map for the implementation of the sanctions policy.

What is this about:

◻️The developed proposals are based on Russia's dependence on Western reserve currencies, markets and banks, in particular in trade.

The purpose of the proposed restrictions is to deprive the Russian Federation of the financial flows that the aggressor directs to sponsor the war.

What should be done?

✅ Three steps are needed: to impose full blocking sanctions on the entire financial sector of the Russian Federation; completely refuse to provide services and cooperate with the aggressor in the financial sector; achieve institutional isolation by starting the transition to a new economic policy without the participation of the Russian Federation.

These measures correspond to three levels of new financial restrictions in Russia, which can be implemented in stages over the coming months.

The McFaul-Yermak group developed detailed proposals for the imposition of the said sanctions

✅ Firstly , it is necessary to impose full blocking sanctions on the 30 largest Russian banks with state capital, the Moscow Exchange, the National Settlement Depository, the National Clearing Center.

Individual sanctions should be extended to Russian officials responsible for financial policy.

✅ The Russian Federation must be recognized as a state sponsor of terrorism and blacklisted by the International Group on Combating Dirty Money Laundering (FATF).
Gazprombank may remain the only institution in Russia for transactions with goods that are not subject to sanctions. To do this, he must obtain a special license that allows him to carry out an extremely limited amount of transactions and completely block other settlements.

✅ Secondly , it is necessary to complete the termination of economic relations with Russia. The aggressor must be excluded from Western funds and companies. Businesses and individuals should lose access to the services of investment and other consulting, asset management, work on crypto markets. The Group proposes the further imposition of full blocking sanctions against all Russian banks and financial institutions.

✅ Thirdly, it is necessary to achieve the institutional isolation of Russia. For this, it is proposed to introduce strict instruments of control over financial transactions in Russia. Strict centralized control and regulation of Russia's trade will prevent the theft of technology and intellectual property, especially in relation to dual-use goods and services. With regard to Russian enterprises, comprehensive export control should be in place.

✅The group also proposes to introduce new boundaries of transparency and disclosure of information about companies cooperating with Russia in order to increase market and public pressure. It is necessary to toughen the requirements for working with the aggressor and determine the grounds for the introduction of secondary sanctions.

The financial sanctions roadmap, as well as the previous work of the Yermak-McFaul group - the Action Plan for Strengthening Sanctions and the Energy Sanctions Roadmap - will be transferred to the institutions responsible for implementing the sanctions policy. Sanctions pressure on Russia will continue,” Yermak concluded.