‘Will make Kremlin pay’: EU bans all Russian merchandise in new sanctions on Moscow

Days after Russian President Vladimir Putin ordered mobilisation after struggling setbacks in japanese Ukraine, the European Union (EU) on Wednesday introduced extra sanctions on Moscow. European Fee President Ursula von der Leyen stated final week Russia escalated its invasion of Ukraine to a brand new degree. The sham referendum in areas that Russia has occupied is an unlawful try and seize lands and alter worldwide borders by pressure. 

She stated the mobilisation and Putin’s risk to make use of nuclear weapons are additional steps on the escalation path. “We don’t settle for the sham referendum and any form of annexation in Ukraine. We’re decided to make the Kremlin pay for this additional escalation,” she stated. 

Leyen then introduced sweeping bans on Russian merchandise within the European markets and stated this can deprive Moscow of extra 7 billion euros in income. The fee additionally proposed to extend the record of merchandise that can’t be exported to Russia. The purpose of this, she stated, is to deprive the Kremlin army of key applied sciences. For instance, this consists of extra aviation objects, parts, and particular chemical substances. These extra bans will weaken Russia’s financial bases and can weaken its capability to modernise, Leyen stated.   

She additionally introduced a value cap on Russian oil. “Russia is utilizing the earnings from the sale of fossil fuels to finance its struggle. At this time, we’re laying the authorized foundation for an oil value cap. It’s going to assist scale back Russia’s revenues and maintain world power markets secure,” the president stated.

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