Harshest sanctions package will weaken Russia’s economic base, capacity to modernise: EU
European Commission President Ursula von der Leyen said that “the target is the stability in Europe and the whole of the international peace order, and we will hold President (Vladimir) Putin accountable for that,” as quoted by Associated Press (AP).
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FollowAs the Russian military invaded Ukraine, the European Union (EU) is planning the “strongest, the harshest package" of sanctions it has ever considered at an emergency summit on Thursday.
European Commission President Ursula von der Leyen said that “the target is the stability in Europe and the whole of the international peace order, and we will hold President (Vladimir) Putin accountable for that,” as quoted by Associated Press (AP).
“We will present a package of massive and targeted sanctions to European leaders for approval,” she said.
Meanwhile, EU foreign policy chief Josep Borrell called it the “strongest, the harshest package” ever considered.
“A major nuclear power has attacked a neighbour country and is threatening reprisals of any other states that may come to the rescue,” Borrell said. “This is not only the greatest violation of international law, it’s a violation of the basic principles of human co-existence. It’s costing many lives with unknown consequences ahead of us. The European Union will respond in the strongest possible terms.”
Von der Leyen was quoted by AP saying the “massive and targeted sanctions” she will put to EU leaders “will target strategic sectors of the Russian economy by blocking the access to technologies and markets that are key for Russia.”
Leyen said the sanctions, if approved, “will weaken Russia’s economic base and its capacity to modernize. And in addition, we will freeze Russian assets in the European Union and stop the access of Russian banks to European financial markets.”
“Like with the first package of sanctions,we're closely aligned with partners and allies. These sanctions are designed to take a heavy toll on the Kremlin's interests and on their ability to finance the war,” Leyen further said.
Meanwhile, China in support of Russia has called for restraint in Ukraine, rejecting the term ‘invasion’.
China reiterated on Thursday a call for all parties involved in the situation in Ukraine to exercise restraint and rejected a foreign journalist's description of Russia’s actions as an invasion. The comments were made by foreign ministry spokeswoman Hua Chunying at a regular daily briefing.
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