Western sanctions imposed on Russian energy imports could have a “catastrophic and lasting” effect if fully implemented, while the existing restrictions imposed on the Russian central bank are particularly effectivehas shown on Wednesday a report on these measures of the Treasury Interparty Committee.
Key comments
“Russia is facing so much a significant blow to the size of its economy as well as significant inflation“.
“The Committee will continue to investigate what additional tools do we have to deal with Putin’s aggression and further damage the Russian economy and its ability to finance this war.”
“This war also it will have economic consequences here at homeand while Ukraine is worth supporting in its fight for freedom, it is becoming increasingly clear that the Government will have to support those most affected“.
“The UK should improve the clarity of its guidance on sanctions to help the private sector apply them.”
This report from British lawmakers comes just hours before the release of the country’s Spring Budget for 2022.
Source: Fx Street
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