Tetiana Khutor explained on Suspilne TV why lowering oil prices and criminalizing sanctions evasion are important steps

By the end of June, the European Commission plans to adopt the 18th package of sanctions against Russia. This was announced on Suspilne News by Tetyana Khutor, chairwoman of the Institute of Legislative Ideas.

The new EU sanctions package will focus on the energy and banking sectors and also provides for a reduction in the price cap on Russian oil to $45. This is an important step, as oil revenues are a significant part of the financing of the war against Ukraine.

In addition, the package provides for sanctions against companies that help circumvent restrictions. European Union countries have already criminalized the circumvention of sanctions, and violators are now subject to criminal prosecution.

“Criminal prosecution for circumventing sanctions allows for the arrest and confiscation of assets, which can then be transferred to Ukraine,” said Tetiana Khutor.

She emphasized that Ukraine is also moving in this direction: the parliament has passed a bill in the first reading that criminalizes the circumvention of sanctions, harmonizing Ukrainian legislation with European legislation. According to Tetiana Khutor, the implementation of the directive on the criminalization of the circumvention of sanctions in Ukraine is progressing quite positively.

At the same time, Tetiana Khutor stressed that the sanctions tool must work simultaneously and from all sides, as Russia uses various tools to circumvent sanctions, including a shadow fleet, which also needs to be dealt with.

The introduction of sanctions, criminal liability for circumventing them, and restrictions on oil prices put additional pressure on Russia's economy and bring Ukraine closer to victory by ensuring that violators are held accountable and their assets are confiscated for the benefit of Ukraine.