Zelenskyy addresses World Economic Forum; calls for 'maximum' sanctions against Russia

Amid the ongoing ravaging war in Eastern Europe, Ukrainian President Volodymyr Zelenskyy has called for "maximum" sanctions against Russia for its unjustified invasion. He made the remarks during a virtual speech on the first day of the World Economic Forum gathering of corporate executives, government officials and other important dignitaries in Davos, Switzerland. During his speech, Zelenskyy argued that additional sanctions are needed to deter Russia's aggression, such as an oil embargo, blocking all Russian banks, and the complete cessation of commerce with Moscow. 

"This is what sanctions should be: They should be maximum so that Russia and every other potential aggressor that wants to wage a brutal war against its neighbour would clearly know the immediate consequences of their actions,” the Ukrainian President remarked, as per The Associated Press (AP). He went on to say that this should set a precedent that will last for decades to come. Zelenskyy also called for the total pullout of Western corporations from Russia in order to prevent them from financing the country's war. Furthermore, the embattled President claimed that Ukraine requires at least $5 billion each month at this tough time. 

G-7 vows to provide $19.8 billion in economic aid to Ukraine

Earlier on May 20, the Group of Seven (G-7) countries decided to provide $19.8 billion in economic aid to Ukraine to help it maintain its ability to defend itself despite its financial difficulties. According to Zelenskyy, the courage of his people has sparked an unseen unity in the democratic world. 

He also stated that Ukraine is open to commercial prospects and that the post-war reconstruction business has enormous potential. "We offer partner counties, cities and companies to take patronage over a particular region or city. Denmark and EU already have chosen areas," Zelenskyy added, as per PTI.

Zelenskyy urges world leaders to shift their business interests from Russia to Ukraine

It is significant to mention here that Zelenskyy also urged world leaders gathered to shift their commercial interests from Russia to Ukraine. He also bemoaned the fact that some countries turned a blind eye towards Russia by returning to business even after the annexation of Crimea. The Ukrainian President also condemned the Russian attack for increasing poverty and sorrow around the world, and urged the international community to take decisive steps to prevent Russia from waging another war. "Ukraine is short on time. The world has to be united. The world is united and I only wish that the world doesn't lose its unity. We need to win this war and we need the support," Zelenskyy added before concluding his speech.

(With inputs from AP/PTI, Image: AP)