President Volodymyr Zelensky signed a decree on Jan. 13 imposing new sanctions on the Russian financial sector.
Since the launch of full-scale invasion in 2022, Ukraine has been expanding its list of sanctions against individuals and enterprises that support Russia's war.
The sanctions target 140 distinct entitites, Zelensky said in his evening address.
Along with the decree, the president also signed a draft law introducing criminal penalties for attempts to evade sanctions. The proposed law is based on international standards for enforcing sanctions.
"We all understand that the more pressure we exert on the aggressor, the closer we bring peace," Zelensky said.
"Sanctions are one of the most effective tools for justly pressuring Russia and everyone associated with it or working for the war."
The draft law will be next be submitted to the Verkhovna Rada, Ukraine's parliament.
Days before Zelensky's announcement, the United States and United Kingdom imposed broad sanctions against the Russian oil industry, taking aim at Moscow's so-called "shadow fleet." The restrictions targeted nearly 200 vessels, along with Russian oil companies and industry officials.
Zelensky praised the sanctions as a "significant blow to the financial foundation of Russia's war machine."
Katie Marie Davies
