Strengthening sanctions against Russia may be more effective than introducing new ones – US Treasury Department

This was stated by US Deputy Secretary of the Treasury for International Affairs Jay Shambaugh, RBC-Ukraine reports with reference to his speech.

According to him, making sanctions more effective does not necessarily mean creating new ones. Sometimes an insignificant new sanction is less important than strengthening what you already have in place.

He also noted that the US is studying how to strengthen the current sanctions against Russia and close opportunities for their circumvention. In his opinion, such measures should be more effective than new restrictions.

According to him, gaps appear in any restrictions and this should be stopped. But the sanctions have proven effective, as Moscow has to buy military technology from less reliable suppliers. Plus, energy resources profits decreased in Russia.

• On April 8, Biden extended the first sanctions against Russia for another year.

• The USA also decided to send delegations of officials to Europe to persuade businesses to leave Russia.