OREANDA-NEWS Ukrainian Finance Minister Serhiy Marchenko told mind.ua in an interview that sanctions against Russia will not be fully effective in the next six months or later. His words are quoted by RIA Novosti.

He noted that the anti-Russian sanctions have too soft an impact on the Russian economy and budget - even with the ruble's exchange rate quickly recovering.

Marchenko also called the daily loss of €300 million to the Ukrainian budget "unfair" when at the same time Russia "earns €1 billion a day. The Ukrainian Finance Minister called for tougher sanctions from Western countries, including an embargo on oil, gas and any goods from Russia.

Earlier, Marchenko claimed that two-thirds of Ukraine's state budget consists of Western money - borrowings and grant funds.