EU Plans 'Harshest' Sanctions Ever Against Russia, Will Target Strategic Sectors Of Russian Economy
The European Union (EU), at an emergency summit Thursday, is planning the “strongest, the harshest package” of sanctions it has ever considered against Russia, as the Russian military attacked Ukraine
New Delhi: The European Union (EU), at an emergency summit Thursday, is planning the “strongest, the harshest package” of sanctions it has ever considered against Russia, as the Russian military attacked Ukraine, the Associated Press (AP) reported.
World leaders have condemned the Russian invasion of Ukraine and warned of heavy sanctions to come for the attack which Putin announced in a televised address Thursday morning.
According to an AP report, 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.”
“We will present a package of massive and targeted sanctions to European leaders for approval,” the AP report quoted her saying.
According to the report, EU foreign policy chief Josep Borrell called the package of sanctions the “strongest, the harshest package” ever considered.
Borrell said that “a major nuclear power has attacked a neighbor country and is threatening reprisals of any other states that may come to the rescue”.
“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,” the AP report quoted Borrell as saying.
Von der Leyen said that the massive and targeted sanctions “will target strategic sectors of the Russian economy by blocking the access to technologies and markets that are key for Russia”, according to the report.
Quoting Von der Leyen, the report said that 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 financial markets.”
When Russia recognised the two breakaway eastern Ukrainian republics, the first package of sanctions were imposed. Von der Leyen said that all Western powers were walking in lockstep, according to the AP report.
“We are closely aligned with our partners and allies the United States, the United Kingdom, Canada, but also, for example, Japan and Australia,” the report quoted von der Leyen as saying.
The Prime Minister of the United Kingdom, Boris Johnson, said that he was appalled by the horrific events in Ukraine and has spoken to President Zelenskyy to discuss next steps, according to a statement issued by the Prime Minister’s office.
According to the statement, the Ukrainian President updated the Prime Minister of the United Kingdom on the attacks taking place. Johnson said that the West would not stand by as President Putin waged his campaign against the Ukrainian people.
Johnson added that he hoped Ukraine could resist and that Ukraine and its people were in the thoughts of everyone in the United Kingdom during this dark time.
According to the AP report, French President Emmanuel Macron said “France firmly condemns Russia’s decision to wage war”. Macron also promised support for Ukraine, and said that Russia must end its military operations immediately.
French President Emmanuel Macron, who had labored until the last minute for a diplomatic solution, said “France firmly condemns Russia’s decision to wage war,” and promised support for Ukraine.
This week, nations around the world have imposed a raft of new sanctions on Russia, media reports said.
According to the AP report, Australian Prime Minister Scott Morrison said that sanctions against Russia would become law on Friday. He said that these would not take effect until the end of March.
The Australian Prime Minister also said that the financial sanctions and travel bans that target eight members of the Russian Security Council will be a first batch of measures in response to Russian aggression toward Ukraine, according to the AP report.
By targeting two Russian banks, Australia will also align with the United States and Britain, the AP report said.
United States President Joe Biden has condemned the Russian invasion of Ukraine. He said that he will meet with his G7 counterparts on February 24, according to a statement issued by The White House. Then, Biden will speak to the American people to announce the further consequences the United States and its Allies and partners will impose on Russia for “this needless act of aggression against Ukraine and global peace and security”.
“We will also coordinate with our NATO Allies to ensure a strong, united response that deters any aggression against the Alliance. Tonight, Jill and I are praying for the brave and proud people of Ukraine,” he further said.
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