Svantesson: “Putin does not have time on his side”

Brussels – “We must be tough on Russia. If we back down now, it will only benefit Russia. We definitely support a new package,” says Sweden’s Finance Minister Elisabeth Svantesson as she arrives for Tuesday’s meeting with her EU colleagues.

A 17th sanctions package from the EU is underway due to the full-scale Russian invasion of Ukraine. Approval is likely to come as early as Wednesday from the ambassadors of the EU countries regarding the package, which mainly includes measures against even more ships believed to belong to the Russian shadow fleet.

And already, there is talk of package number 18 – especially if Russia does not agree to the 30-day ceasefire that both the USA and most of Europe have supported.

“Putin does not have time on his side,” asserts Svantesson.

She has brought with her Torbjörn Becker from the Stockholm School of Economics, who has been invited by the presidency country Poland to discuss his report on how the Russian economy is actually faring.

“It’s not that Putin will stop fighting tomorrow because the economy is weaker than he claims. But it is important to demonstrate that it is weak and that it is affected by sanctions. What we do matters,” says Elisabeth Svantesson.

(May 13)