Russia's invasion of Ukraine has led to a series of sanctions against Vladimir Putin's inner circle and against Russia as a country.
At the same time, Europe is dependent on Russian energy - in the form of oil and gas.
Natalie Jaresko believes that Europe's leaders must find alternative paths.
- We must sacrifice a little now so as not to be forced to pay the catastrophic price that awaits if we do not stop the war now.
She believes that the Western world must react more clearly to Vladimir Putin.
"If we can impose tougher sanctions and fully isolate it, it could have an effect and make Putin end the war," said Natalie Jaresko.
Hear Ukraine's former finance minister tell more in the clip above.