On September 10-11, Kyiv hosted the Kyiv Sanctions Forum 2026. Over 60 participants from 22 countries and Ukraine focused on ways to increase sanctions pressure on Russia in energy, the financial sector, maritime logistics, and the supply of technology for the Russian military-industrial complex.
The forum was organized by the Office of the President of Ukraine, the Ministry of Foreign Affairs of Ukraine, and the KSE Institute Sanctions Expertise Hub. The first day of the forum was held in a closed format with the participation of sanctions coordinators, high-ranking officials, and representatives of relevant state bodies. On the second day, researchers and civil society organizations joined the proceedings.
The forum was attended by representatives from Belgium, Canada, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Iceland, Ireland, Italy, Japan, Latvia, Lithuania, the Netherlands, Norway, Poland, Romania, Sweden, the United Kingdom, the United States, and Ukraine, as well as representatives from the European Union Delegation to Ukraine. The event took place in Kyiv despite regular Russian missile and drone attacks on the city.
On the first day, participants assessed the results of existing sanctions, focusing on new circumvention schemes and further joint actions by the sanctions coalition.
“Russia is adapting to sanctions, so after every strong decision, we must immediately think about the next step. Sanctions against Rosneft and Lukoil showed that such decisions can produce a real shock effect. We still have other tools—tariffs, secondary sanctions, and restrictions against companies in third countries. We need to continue increasing pressure to shift the balance and force Russia to begin negotiations,” noted Vladyslav Vlasiuk, Adviser – Commissioner to the President of Ukraine on Sanctions Policy.
Yevhen Perebyinis, Deputy Minister of Foreign Affairs of Ukraine, outlined the main critical challenges facing Ukraine today, including: the growth of Russian ballistic missile production, the continued supply of critical raw materials for the needs of the Russian military-industrial complex, and sanctions circumvention. He paid special attention to the need for further blocking of the Russian shadow fleet, which finances the war and poses serious environmental and security risks, as well as countering emerging technological threats, such as the deployment of the Russian satellite system “Rassvet.”
A special session featured representatives from the Main Intelligence Directorate of the Ministry of Defense of Ukraine (HUR), the Foreign Intelligence Service of Ukraine (SZRU), and the Security Service of Ukraine (SBU). HUR specialists provided participants with a detailed presentation on the structure of Russian ballistic missile production, critical links in production cooperation, and the component base, including the foreign electronic components used in them. The SZRU presented an assessment of the impact of sanctions on the aggressor state’s economy, while the SBU focused on the Russian shadow fleet and its role in bypassing sanctions.
Russia is constantly restructuring trade and financial routes, creating new companies, and involving intermediaries in third countries. Consequently, one of the key focuses for forum participants was shifting efforts from individual companies or vessels to the networks that facilitate sanctions circumvention.
“Just a few years ago, few believed that Europe could give up Russian oil and gas. Since then, sanctions have already yielded many important results, making it harder to find a next step with the same powerful effect. At the forum, we analyzed how sanctions today intersect with trade, investment, and technology, and where else pressure on Russia can be intensified,” said Nataliia Shapoval, President of KSE Institute.
In the session on Russian oil and the shadow fleet, participants focused on further increasing pressure not only on individual tankers but also on traders, insurers, vessel operators, brokers, flag registries, and other links in Russian oil logistics. They also assessed the effectiveness of the price cap, gaps in its enforcement, and the possibility of a broader ban on providing maritime services for the transport of Russian oil. Additionally, they considered how to maintain pressure on Russian revenues amid a volatile global energy market.
On the second day, representatives from StateWatch, Razom We Stand, the Independent Anti-Corruption Commission (NAKO), the Economic Security Council of Ukraine, LexCollective, DiXi Group, Open Society Foundations, and SECTA Research joined the forum.
Experts from KSE Institute and Open Society Foundations presented assessments of Russia’s financial situation and opportunities to increase economic pressure. Russia’s budget deficit is growing, oil and gas revenues are declining, and the state is increasingly relying on domestic borrowing, Russian banks, and Central Bank support. Sanctions have already limited Russia’s access to external financing and part of its reserves, making the financing of the war more expensive.
In the energy block, KSE Institute presented an analysis of sanctions against Russian oil, while Razom We Stand presented an analysis regarding Russian LNG. Participants reviewed the effectiveness of current restrictions, enforcement gaps, and opportunities for further pressure on Russian energy revenues. Special attention was paid to Russian LNG exports, which remain dependent on a limited number of specialized vessels, technologies, and services.
In the final panel, the Economic Security Council of Ukraine, StateWatch, and NAKO presented their research. They demonstrated how Russia obtains critical materials, new technologies, and components for the Russian military-industrial complex, and how their supply networks are evolving. Russia largely relies on Chinese suppliers, but components of Western origin continue to be found in its weapons. To identify new links in such networks, researchers proposed analyzing owners, directors, addresses, and the shipping history of companies.
KSE Institute thanks the co-organizers, representatives of partner countries, and all experts, researchers, and civil society organizations for two days of substantive work and concrete proposals for further sanctions pressure on Russia.
KSE Institute expresses special gratitude to the Government of Denmark for its institutional support. The forum was held as part of the activities of the Sanctions Expertise Hub, which operates within the Center for Geoeconomics and Resilience, established with the financial support of Denmark.
