“The sanctions against Russia are not enough as during this time we have not seen that Russians leave Donbas or Crimea,” Taylor stated.
He reminded that the U.S., Europe, Australia, Japan, Canada and other countries imposed the restrictions against Russia to force it to stop aggression against Ukraine.
However, Taylor underlined that there are more extended sanctions, which may be imposed against Russia by the international society.
The sectoral sanctions against defense, energy, financial spheres relate to them.
Secondly, the international society may use the restrictive measures against the majority of the Russians. According to Taylor, people who will suffer from these sanctions will not be able to get visa, their families will not be able to travel or get education in the U.S. or the UK and their securities will be frozen.
“One of the most powerful sanctions, which has not applied against Russia yet, and Russia know it well, is its exclusion from the international financial system. It will be destructive for the state. We have never done it but in case of another aggressive step, it may be used. This sanction is the price for Putin,” he noted.
As we reported the European Union extended sanctions against 170 Russian officials and 44 organizations for actions against the territorial integrity of Ukraine for six months.
The United States of America is likely to strengthen sanctions against Russia due to its occupation of the Crimean peninsula in 2014 as Rick Perry, the U.S. Secretary of Energy said.
On June 27, 2019, the EU officially upheld the decision to extend the economic sanctions against Russia until January 31, 2020. The decision was made after leaders of France and Germany, Emmanuel Macron and Angela Merkel made a joint report on the status of Minsk agreements' completion.