France's finance minister told CNBC additional sanctions are being considered against Russia for its unjustified war against Ukraine.
France's finance minister told CNBC that additional sanctions are being considered against Russia for its unjustified war against Ukraine, as current measures have proven to be "very efficient."
"When you are... looking at the oil revenues that has been diminishing in Russia, thanks to the sanction. When you are looking at the assets that have been frozen — more than $58 billion, you can say that sanctions against Russia are efficient," said the finance minister.since the start of Russia's full-scale invasion in February 2022.
The embargo came exactly two months after the West took their most significant step yet to prevent Russia from funding the war with fossil fuel export revenue.a $60 price cap on Russian oil on Dec. 5. It came alongside the EU's import ban on Russian seaborne crude, as well as corresponding bans by other G-7 partners.Still, Le Maire noted Europe needs to stick "to a very clear, strong implementation of the sanctions.
All European countries "stand united facing this war in Ukraine and facing decisions of sanctions. This is quite good news for Europe," the finance minister said.noted that sanctions on Russia have taken a significant toll on the Kremlin.
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