Ukraine Is Calling For More Sanctions Against Russia| FXMAG.COM

In this article:
More sanctions against Russia
Regulations for banks in the EU
The IMF’s gold standard for Belgium

The war is gaining new momentum, many countries are declaring their help for Ukraine by offering modern weapons. But will it be enough? Ukraine believes that more sanctions could significantly weaken Russia.

More sanctions against Russia

The war in Ukraine is becoming more and more dangerous. Russia is carrying out increasingly brutal attacks.

Several regions of Ukraine have to introduce emergency power outages.

Millions of Ukrainians experience regular power outages and freezing winter temperatures as Russia attacks critical infrastructure and energy facilities. The attacks came a day after Ukraine's western allies pledged to send battle tanks to the country, opening up a new front in the types of weapons they are ready to deliver against Russian forces.

President Volodymyr Zelensky called in his late-night video speech for more sanctions against Russia and for the establishment of a tribunal to deal with Russian war crimes.

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Japan on Friday announced additional sanctions in response to Moscow's recent actions in Ukraine, banning the export of key strategic goods to Russia and freezing the assets of a dozen people.

Zelenskyy demands more sanctions as Russia bombards Ukraine; explosions heard near nuclear plant https://t.co/dqfnxmGhcj
— CNBC (@CNBC) January 27, 2023

Regulations for banks in the EU

Banking regulation is coordinated internationally by regulators, but there are still differences in how the rules work in practice and how they are implemented. The European Banking Federation and consultants Oliver Wyman conducted a study in which they found that banks in the European Union could increase lending by almost a third if regulators applied capital requirements in the same way as their US counterparts.

Ease capital rules on EU banks to boost lending, banking industry says https://t.co/onyrj9Ca26 pic.twitter.com/BDhcroGsec
— Reuters Business (@ReutersBiz) January 27, 2023

The IMF’s gold standard for Belgium

The IMF Data Standards Initiatives were established in the mid-1990s to increase the transparency of member countries' data as a global public good and to promote the development of robust statistical systems.

Belgium adheres to the IMF Special Data Dissemination Standard (SDDS) Plus and meets the most stringent standards for the dissemination of basic macroeconomic and financial data on the state of the economy and its financial interconnections.

This is a strong testament to the country's commitment to data transparency to the public, markets and the international community, which, among other things, fosters efficiency in markets, better policies and greater accountability in policymaking, and richer and better.

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Belgium is the latest country to have achieved the IMF’s gold standard for data transparency, the SDDS Plus, which recognizes their achievements in the dissemination and quality of ðŸ‡§ðŸ‡ª macroeconomic and financial data. https://t.co/3dMv5KR9tV pic.twitter.com/rgNTR04z8a
— IMF (@IMFNews) January 27, 2023