Zelenskyy Praises US Sanctions on Russia's Banking Sector
Ukrainian President Zelenskyy on US Sanctions Against Russia
Ukrainian President Volodymyr Zelenskyy highlighted the importance of sanctions in weakening Russia's war efforts. He praised the United States for introducing effective sanctions targeting Russia's banking sector, which he believes significantly weaken President Vladimir Putin's regime. However, Zelenskyy stressed that more needs to be done to ensure Russia loses its capacity to fund the war.
US Sanctions on Russia
On November 21, the US imposed sanctions to limit Russia's use of the international financial system. These sanctions target 118 individuals and entities in Russia's financial services sector, including Gazprombank and other banks. The US Department of the Treasury issued an alert about the risks of joining Russia's System for Transfer of Financial Messages, which is used to evade sanctions.
International Support for Ukraine
Zelenskyy expressed gratitude for defense aid from Denmark, the United States, Germany, and Canada. Denmark allocated 1 billion kroner to support Ukraine's defense industry, while Norway and Sweden are also contributing. The US provided a USD 275 million package, including HIMARS ammunition and other critical supplies. Germany and Canada are also providing support, including a NASAMS system.
The US State Department reaffirmed its commitment to curtail Russia's ability to use the international financial system for its war efforts and to hold accountable those who enable or profit from the war.
Doubts Revealed
Zelenskyy
Volodymyr Zelenskyy is the President of Ukraine, a country in Eastern Europe. He is leading Ukraine during a difficult time when there is conflict with Russia.
US Sanctions
Sanctions are like rules or punishments that one country puts on another to make them change their behavior. The US has put these rules on Russia to stop them from doing things that the US and its friends don't like.
Russia's Banking Sector
This refers to the banks and financial institutions in Russia. When sanctions are put on them, it makes it harder for Russia to use money for things like war.
Putin's regime
This means the government and leadership of Russia, which is led by President Vladimir Putin. A regime is like a group of people who are in charge of a country.
Defense aid
Defense aid is help given by one country to another to protect itself. This can include things like weapons, equipment, and other supplies needed for defense.
Entities
Entities are organizations or groups, like companies or government bodies. In this context, it refers to those in Russia's financial sector affected by the sanctions.
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