EU says new sanctions will rob Russia of a ‘prosperous future’ — RT Russia and the former Soviet Union

Bloc says it will impose measures on 70% of Russian banking sector in response to military action in Ukraine

The European Union (EU) has announced sanctions aimed at derailing Russia’s oil, banking, technology and airline industries. The move would also target Russian elite money in Europe, depriving diplomats and businessmen of preferential access to the EU.

In response to Russia’s military action in Ukraine, European Commission President Ursula von der Leyen on Thursday announced a set of sanctions with the stated aim of reducing “Russia’s Access to the Most Important Capital Markets.”

“We are now targeting 70% of the Russian banking market, but also key state-owned enterprises, including the defense sector, and these sanctions will increase Russia’s borrowing costs, increase inflation and gradually erode Russia’s industrial base. Russia,” he added. von der Leyen said on Thursday, revealing that the EU was “also targeting the Russian elite by limiting their deposits so that they can no longer hide their money in safe havens in Europe.”

The European Union will also work to ensure that “impossible for Russia to modernize its oil refineries” and to “ban the sale of all aircraft spare parts and equipment to Russian airlines” in the effort to “degrade the key sector of the Russian economy and the country’s connectivity”, von der Leyen revealed, noting that “Three-quarters of Russia’s current commercial fleets were built in the European Union, the United States and Canada.”

Finally, the EU will limit Russia’s access to “crucial technology” and “important technologies it needs to build a prosperous future”, and strip Russian diplomats and businessmen of their “privileged access to the European Union”.

On Thursday, von der Leyen condemned Russia “barbarian attack” on Ukraine and “the cynical arguments to justify it”, and accused Russian President Vladimir Putin of “bringing the war back to Europe”.

“Russia’s goal is not just Donbass, the goal is not just Ukraine, the goal is stability in Europe and the whole international peace order,” she asserted.

On Thursday, Putin launched a “special military operation” in the Donbass, which has since expanded into Ukrainian territory, claiming that it is necessary to protect the inhabitants of the newly recognized republics of Lugansk and Donetsk from “The Ukrainian Aggression”. The Russian leader claimed that the purpose of the operation was to “demilitarize” and “denazify” Ukraine, while accusing the Kiev authorities of having subjected the population of Donbass to eight years of “genocide” after the US-backed coup in 2014 that overthrew an elected government in Kyiv.


RT

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