Reacting to Russian military attack on Ukraine, the head of the European Commission Ursula von der Leyen has announced the proposal to EU member states to adopt «package of massive and targeted sanctions» against Russia.
Entrepreneurs in the Baltic states have urged in the context of previous sanctions that such measures should be imposed in such a way that private businesses, which are not linked to state funding, would be affected as little as possible.
In the morning of Thursday, February 24, hours after Russian forces and military equipment entered the territory of Ukraine taking lives and attacking infrastructure, von der Leyen announced together with EU’s top diplomat Josep Borrell that they condemned «this barbaric attack, and the cynical arguments to justify it», according to a statement by the European Commission.
Read also: Belarus attacks Ukraine as well
«Later today, we will present a package of massive and targeted sanctions, to European Leaders for approval,» the European Commission President said. «With this package, we will target strategic sectors of the Russian economy by blocking their access to technologies and markets that are key for Russia. We will weaken Russia’s economic base and its capacity to modernise. 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 are closely aligned with our partners and allies – the United States, the United Kingdom, Canada, but also, for example, Japan and Australia. These sanctions are designed to take a heavy toll on the Kremlin’s interests and their ability to finance war.»
Von der Leyen also evaluated that millions of Russians do not want war. She called «on Russia to immediately stop the violence and to withdraw its troops from Ukraine’s territory».
Von der Leyen to offer «package of massive and targeted sanctions»
