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Ministry of Economy demands to ban Russia from international trade organizations and bring its ratings down

It is about Russia’s exclusion from agreements and change in ratings, the Ministry’s press service writes.

Ministry of Economy demands to ban Russia from international trade organizations and bring its ratings down
Photo: kontrakty.ua

The Ministry of Economy of Ukraine appealed to the leading international financial, trade and technological companies to fight Russia's aggression against Ukraine by all possible methods. It is about Russia’s exclusion from agreements and change in ratings, the press service of the Ministry writes.

"To this end,we sent a number of appeals to influential economic companies and institutions. Moody’s Corporation, AM Best Rating Services, S&P Global, Fitch Group are reputable rating agencies that assess the financial stability of different countries. Our request to them is to lower Russia's credit rating to the lowest possible level, which will lead to massive demands of credit obligations repayment and make Russian economy more vulnerable, "the Ministry informed.

Ministry also asks the International Exhibition Bureau to close the Russian pavilion at Expo 2020 in Dubai and remove Moscow from the list of candidates for hosting Expo 2030. The International Labor Organization is asked to suspend the membership of Russia and Belarus.

The Ministry called on the participants of the General Agreement on Tariffs and Trade (GATT) to apply the broadest embargo on Russian products, or to apply non-automatic licensing, which will minimize the export of goods from Russia.

"We ask the world's powerful IT companies, such as Telegram Messenger Inc., Alphabet Inc., Meta Platforms Inc., Microsoft Corporation, Intel Corporation and many others to freeze current agreements with Russia, fulfilling service contracts, providing any services and licenses. Today, Russia uses a number of products of these companies to kill Ukrainians, destroy their homes and infrastructure, which is against the spirit and ideology of the modern digital society, "the Ministry said.

They stressed that the aggression against Ukraine is a challenge to the whole civilized world, which should be met together.

"All available opportunities and resources should be used to force Russia and Belarus to pay dearly for their actions and bring them to peace. We are counting on the quick and constructive reaction of the world economic community to the unprecedented since the Second World War fact of the attack on an independent state in the heart of Europe!” Ministry added.

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