The President of Lithuania says that the EU sanctions on Russia have a limited effect

He argues that Russia’s macroeconomic indicators show the limited impact of sanctions.

“We have to admit that those thirteen sanctions packages – the thirteenth not yet implemented – basically had a very limited impact on the Russian economy, as we can see from its macroeconomic indicators,” G. Nausėda told reporters in Munich on Saturday.

According to him, it is necessary to strictly control the ways of circumventing the sanctions, because they make the restrictions ineffective.

“It is necessary to strengthen the secondary consequences and ways to circumvent these sanctions, which are so far-fetched that they practically make the sanctions mechanism ineffective and empty,” said G. Nausėda.

The President of Lithuania says that it is necessary to make a decision as soon as possible on how to use the frozen Russian funds for the reconstruction of Ukraine.

“A much faster decision is what to do with those frozen Russian assets that we now have and we don’t know what to do with them, because we cannot find legal means to use those real assets for the reconstruction of Ukraine,” said G. Nausėda.

The EU applies sanctions to regarding 1.5 thousand for citizens of Russia and Belarus and 207 subjects.

As a result of these sanctions and measures, 215 billion have been frozen in the EU member states. EUR worth of assets, as well as regarding 300 billion immobilized in the EU and G-7 countries. assets of the Central Bank of Russia worth EUR.