«Moscow to cut itself off from international financial markets and impose an embargo on product importsSaid the President of the European Commission Ursula von der Leyen revealing details of sanctions that could be imposed on Russia in the event of an invasion of Ukraine.
“Russia will be effectively cut off from the international financial markets”, said von der Leyen on German state television ARD late yesterday, Sunday (20/2). «Sanctions will be imposed on all the products we produce “which Russia needs to modernize and diversify its economy,” she said.
She stressed that sanctions will be imposed only if Russia invades Ukraine, rejecting an appeal by Ukrainian President Volodymyr Zelensky on Saturday for immediate action.
“The imposition of sanctions is so huge and has so many implications that we know we must always give Russia a chance to return to diplomacy and the negotiating table,” von der Leyen was quoted as saying by the Athens News Agency.
According to the President of the European Commission, Russia’s dependence on fossil fuel exports is its weakness.
“They make up two-thirds of its exports and half of Russia’s budget comes from them,” he said. Moscow needs to modernize its economy and “this is exactly what will no longer be possible” if further sanctions are imposed, von der Leyen concluded.
Borrell: There is a great need for any form of dialogue to avoid war
The EU supports the latest efforts to hold further talks between Washington and Moscow in order to find a diplomatic solution to the crisis over Ukraine, the head of European diplomacy said on Monday (21/2). Josep Borrell.
As Josef Borrell characteristically pointed out: “There is a great need for summits, at the level of leaders, at the level of ministers, in any form, any form of talks and negotiations in order to avoid war.”
“We will support anything that can make diplomatic talks the best way, the only way to find a solution to the crisis,” he said after France announced that US President Joe Biden and his Russian counterpart Vladimir Putin had agreed in principle at a summit. top for Ukraine.
“We are ready for when the time for sanctions comes”
The Russian-Ukrainian issue and that of Bosnia and Herzegovina are the main issues that will be discussed by the foreign ministers at the current Foreign Affairs Council in Brussels, EU High Representative Josep Borrell said at the meeting.
On the Russia-Ukraine issue, Mr. Borel referred to the discussion that the ministers will have with their Ukrainian counterpart Dmitry Kuleba.
The High Representative noted that there is support for any diplomatic effort, while regarding the imposition of sanctions in Moscow, he noted that “the job is done.” “We are ready when the time comes“, He said, expressing hope, however, that the time for sanctions will not come.
Finnish Foreign Minister: The European Union is ready for tough restrictive measures
Finnish Foreign Minister Pekka Haavisto expressed optimism that diplomacy on the Russia-Ukraine issue would work, coming to the Foreign Affairs Council in Brussels.
“Otherwise, the EU is ready for tough restrictive measures against Russia in the event of an attack on Ukraine,” he said. “Important telephone communications” by French President Emanuel Macron.
Finally, the Finnish minister noted that “EU solidarity with Ukraine is important at this critical time.”
Source: News Beast
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