Measures to punish Moscow over Ukraine have been ineffective, PM says
The recovery of the Russian ruble indicates that the sanctions against Moscow are not serving their purpose, Polish Prime Minister Mateusz Morawiecki said on Saturday. A slew of states, including EU members, imposed restrictions on Russia after it attacked Ukraine in late February.
“I have to say it very clearly: the sanctions we have imposed so far are not working. The best proof is the ruble exchange rate,” Morawiecki said Saturday.
“The ruble exchange rate, that litmus test, has returned to the level it had before the Russian aggression against Ukraine. What does it mean? This means that all economic, financial, fiscal and monetary measures have not worked as some leaders wanted. It has to be said very loudly. he added, speaking at a center for Ukrainian refugees in Otwock, near Warsaw.
Poland has argued for tougher sanctions against Russia for its actions in Ukraine.
Earlier this week, Prime Minister tweeted this “Sanctions are supposed to stop Putin. If not, they are not strong enough! »
In March, as Western countries began imposing sweeping sanctions on Moscow over Ukraine, the ruble plunged to historic lows of 132 to the dollar and 147 to the euro. However, at the end of March the ruble was trading at around 85 to the dollar and 93 to the euro, almost the same rate as before the launch of Russia’s military campaign. The Russian currency rallied following a number of central bank actions and Moscow’s announcement that it will require “hostile countries” pay for gasoline in rubles.
Moscow attacked the neighboring state over Ukraine’s failure to implement the terms of the Minsk agreements signed in 2014 and Russia’s eventual recognition of the Donbass republics in Donetsk and Lugansk. The Minsk Protocol negotiated by Germany and France was designed to regularize the status of regions within the Ukrainian state.
Russia has now demanded that Ukraine officially declare itself a neutral country that will never join the US-led NATO military bloc. kyiv says the Russian offensive was unprovoked and has denied claims it planned to retake the two republics by force.
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