We all understand: sanctions against Russia really matter. This is definitely not the time to lift sanctions, to rescue Russian oligarchs from them, and definitely not the time for Europe to give Russia gifts. Usmanov, Fridman, and other Russian figures like them have not made their moves against the war so far.

This is not the time for Europe to forget what is happening. We need new and stronger sanctions – ones that Russia cannot adapt to, including anti-ballistic sanctions against all Russian ballistic missile production, as well as sanctions that restrict Russian finances. In other words, measures that constrain the war.

Lindsey Graham’s sanctions bill is still a bill, unfortunately, and not a law. It is important that it becomes law. I thank everyone around the world who supports this approach and who knows that strength works.

From the evening address.