The Government’s goal is to finally sever economic ties with belarus and russia due to their aggression and help our partners get rid of their trade dependence on the aggressor, inter alia, by increasing the supply of products manufactured in Ukraine. Currently, the main task is to increase the sanctions pressure on russia and belarus and reflect international sanctions.

Deputy Minister of Economy of Ukraine – Trade Representative of Ukraine Taras Kachka told about this during committee hearings on the topic: “Substitution of imports from the russian federation and the republic of belarus by Ukrainian goods in Ukraine, the European Union and the world”.

“The government is working to continue sanctions pressure by applying sectoral sanctions to sectors of the russian economy or personal sanctions to persons involved in creating threats to Ukraine. In particular, the other day the President of Ukraine put into effect the NSDC’s decision to sanction 200 legal entities from the nuclear energy sector, in particular Rosatom State Corporation. In addition, the priority direction for us is the reflection of international sanctions,” noted Taras Kachka.

He reminded that proposals for the application of sanctions are considered by the Interagency Working Group (IWG) on implementation of the state sanctions policy before being submitted to the NSDC for consideration. The IWG is headed by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko. Currently, the IWG is working on proposals for the introduction of sanctions against individuals and legal entities in various spheres, such as energy, the military industry and related areas, terrorist military groups, the financial sector, the IT sphere and others.

During the work of the IWG (since September 2022), more than 3,300 individuals and more than 1,700 legal entities have been sanctioned. 

For reference: 

The legal basis for the application of sanctions in Ukraine is determined by the Law of Ukraine “On Sanctions”. Decisions on the application of sanctions are made by the National Security and Defense Council of Ukraine as proposed by the Verkhovna Rada of Ukraine, the President of Ukraine, the Cabinet of Ministers of Ukraine, the National Bank of Ukraine and the Security Service of Ukraine. NSDC’s decisions are put into effect by the decree of the President of Ukraine and are binding.