Estonian Prime Minister: sanctions against Russia must reach to Kyrgyzstan

08.11.2023 18:25

Estonian Prime Minister Kaja Kallas stated that the sanctions against Russia are effective. She emphasized the need to continue these sanctions and explained that the Estonian government has approved proposals for a new set of sanctions.

Kallas suggested that a comprehensive trade embargo should be considered because it can be monitored more easily. She expressed concerns that a significant amount of transit goods seemingly destined for Kyrgyzstan or other countries may actually end up in Russia.
She debunked claims that the sanctions are ineffective, pointing out that Russia's budget is facing a significant deficit, amounting to about one-third of its total budget. She also noted that Russia is unable to borrow money from foreign markets due to the sanctions.

The Prime Minister stressed the significance of Russia's inability to access additional funds from financial markets, which has led to problems financing the state budget as its liquid reserves are depleting. She concluded that excluding Russia from Western financial markets is a highly effective sanction, impacting not only their financial capabilities but also affecting their military industry. She urged continued belief in and support for these sanctions, as they have a tangible impact.

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