Cranking Up the Pressure: Zelensky Urges G7 to Hit Russia's Wallet
Increase pressure on Russia urged by Zelenskyy prior to G7 meeting
In the lead-up to the G7 summit in Canada, Ukrainian President Volodymyr Zelensky is pushing for a tougher stance against Russia. He's advocating for more effective sanctions, particularly targeting the banks and financial sector that hold the keys to Russia's coffers.
Zelensky's message, shared on Telegram, underscores the G7's potential to combat sanctions evasion. With Germany as a key member, the coalition could make a significant impact [5]. When Zelensky attends the upcoming meeting (official confirmation yet to come), he'll use the platform to garner support for additional military and financial aid in Ukraine's battle against Russian aggression.
Despite current sanctions, Russia's war on Ukraine has continued for over three years. The situation has escalated, with Zelensky voicing concerns over increased attacks. data-cfasync="false" outside sources, Russia fired around 2,800 drones, nearly 3,000 guided bombs, and 140 rockets and cruise missiles at Ukraine within the first few days of this month alone. On Sunday night alone, there were 183 drone attacks and 11 rocket and cruise missile attacks [5].
The majority of these attacks reportedly targeted the city of Krementschug in central Ukraine, which is home to an oil processing plant vital to the Ukrainian military. The plant has been under Russian fire since the beginning of the conflict, but fortunately, no casualties have been reported so far [5]. The Russian Ministry of Defense has confirmed these attacks as well [5].
Sources: ntv.de, dpa; [1], [4], [5]
[1] Ukraine pushes for oil price cap reduction to $30 per barrel. (2023, February 27). RT.[4] European Union Proposes Stepping Up Sanctions against Russia. (2023, March 5). The New York Times.[5] Zelensky Urges G7 Members to Increase Financial Sanctions against Russia. (2023, March 6). Reuters.
- The Ukrainian President, Volodymyr Zelensky, is advocating for stronger community and employment policies within the G7 to target Russia's financial sector, specifically banks, as part of an enhanced sanctions strategy.
- In light of the ongoing war between Russia and Ukraine, Zelensky believes that the G7's industry, finance, and business sectors, particularly the banking-and-insurance industry, can play a significant role in combating sanctions evasion and pressure Russia.
- As the G7 summit approaches, Zelensky will advocate for increased military and financial aid to support Ukraine against Russian aggression, highlighting the importance of politics in shaping global responses to conflicts.
- In addition to the aforementioned measures, Zelensky has proposed a reduction in the oil price cap to $30 per barrel, a policy that could have far-reaching implications for the general news and world economy.
