Finland's Foreign Minister Elina Valtonen has said that recent US and European Union sanctions targeting Russia's energy sector are very important, yet argued that allies must increase economic and political pressure to force Moscow to end its war against Ukraine.

Source: Bloomberg citing Elina Valtonen, as reported by European Pravda

Details: Valtonen said that the latest coordinated sanctions effort by Washington and Brussels has marked a significant step.

Quote: "We simply have to increase the pressure. Unfortunately, we seem to be unable to change Russia's imperialistic goals, but we should be able to change their calculus."

More details: The foreign minister stressed that the war "costs [Russia] a lot of money" and that its real economy is struggling to withstand the strain.

Background:

• The US imposed measures this week targeting two of Russia's largest oil companies. The sanctions involve freezing all US-based assets of Rosneft and Lukoil and prohibit all US companies from conducting any business with these Russian firms.
• The EU has also formally adopted its 19th package of sanctions against Russia by written procedure on 23 October.
• Ukrainian president Volodymyr Zelenskyy has said that leaders of the Coalition of the Willing in London agreed on measures that will tighten pressure on Russia further.

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