K. Vaitiekūnas before ECOFIN: We need to tighten sanctions, not give money to Putin

Ahead of the meeting of the Council of Economic and Financial Affairs Ministers (ECOFIN) of the European Union (EU), in a doorstep statement, Minister of Finance Kristupas Vaitiekūnas responded to Putin's proposal for Europe.

Asked by the journalist what the Minister thinks about Putin's statement that he is ready to sell oil and gas again to Europe, the Minister replied that it is clear that Putin lacks money for the war, but Europe should react with even tougher sanctions and should not provide Putin with financial resources to continue his war.

"We need to find a solution for a EUR 90 billion loan to Ukraine. Russia poses an existential threat to the whole of Europe, and it is our responsibility as finance ministers to support Ukraine and secure its financing. Ukraine will need funds already from April", Kristupas Vaitiekūnas said, adding that after the approval of the loan it is necessary to return to the question of the use of frozen Russian assets for Ukraine's needs.

He also spoke about Iran's threat to the region and plans to cut red tape in the EU's financial market regulation and supervision system.

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