Ukrainian President Volodymyr Zelenskyy announced a new round of sanctions after what he described as another large-scale overnight assault on Ukraine, involving more than 400 drones and nearly 40 missiles. In a weekend message on X, Zelenskyy said he signed two decrees targeting companies that Ukraine says help Russia obtain critical foreign components used to build missiles and drones, as well as entities tied to Russia’s financial and crypto infrastructure.
In a post to the social media platform X, Zelenskyy explained, “The production of these weapons by the Russian Federation is made possible by the import of these parts, which is achieved by circumventing the sanctions.” He went on to explain, “The sanctions list includes suppliers and manufacturers of these components. Another decree targets companies that assist in making payments for these procurements, as well as agencies assisting in the crypto market and crypto mining in the Russian Federation.”
The new round of sanctions comes as the European Union is pressing forward with their next round. In a European Commission statement (Feb. 5), European Commission President Ursula von der Leyen explained to the world the European Union’s 20th round of sanctions. She explained, “The European Commission proposed a new package of sanctions to further step up the pressure on Russia across the areas of energy, financial services, and trade. The Russian Federation will only be ready to talk peace seriously if they feel forced to do so.”
The European Union explained in a statement by Ursula von der Leyen and the European Commission: “The proposed new measures include a ban on the provision of maritime services for the import and export of Russian crude oil. This would reduce revenues for the Russian Federation and make it harder for them to transport their oil. In addition, further persons would be included on the sanctions list due to their activities related to the ‘shadow fleet.’ The new measures would also include further listings related to regional banks and crypto actors, which can be used to circumvent sanctions.”
The actors targeted by the new round of sanctions by Ukraine and the European Union—foreign suppliers, intermediaries, banks, and crypto actors—have been accused by Ukraine and the European Union of assisting the Russian Federation in keeping their war machine running by circumventing the sanctions.
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