Mega fiscal blockade, more sanctions on Russia

February 24, 2022 14:26

European Commission President, Ursula von der Leyen: "Later today, we will present a package of massive and targeted sanctions to European leaders for their approval.

"With this, we will target strategic sectors of the Russian economy by blocking their access to key technologies and markets. We will weaken Russia's economic base and its capacity to modernise.

"In addition, we will freeze Russian assets in EU and stop access of Russian banks to European financial market. Like with the first package of sanctions, we're closely aligned with partners and allies. These sanctions are designed to take a heavy toll on the Kremlin's interests and on their ability to finance the war."

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