BERLIN (Reuters) – European Commission President Ursula von der Leyen disclosed some particulars of the sanctions Moscow would face if it invaded Ukraine, saying Russia can be reduce off from worldwide financial markets and denied entry to main export goods.
Western leaders have till now refused to be drawn on the main points of the responses they’ve agreed on if Russia invaded, solely ruling out a army response and promising financial sanctions that might be unprecedented in scale.
“Russia would in precept be reduce off from the worldwide financial markets,” Von der Leyen advised ARD public tv late on Sunday night. Sanctions can be imposed on “all goods we make that Russia urgently must modernise and diversify its financial system, the place we’re globally dominant they usually haven’t any substitute,” she mentioned.
She mentioned sanctions wouldn’t be imposed till after any invasion, rejecting calls on Saturday by Ukrainian President Volodymyr Zelenskiy for speedy sanctions.
“The transfer to sanctions is so monumental and consequential that we all know we should at all times give Russia an opportunity to return to diplomacy and the negotiating desk,” she mentioned. “This window remains to be open.”
Russia, which has stationed some 150,000 troopers round Ukraine’s northern and japanese borders, is demanding a assure that Ukraine by no means be allowed to hitch the NATO alliance, one thing President Vladimir Putin says is crucial to Russia’s long run safety.
But Von der Leyen, who heads the 27-member European Union’s government, mentioned Russia’s reliance on fossil gasoline exports was its weak spot.
“They make up two thirds of its exports, and half of the Russia funds comes from them,” she mentioned. Russia wanted to modernise, and “exactly that might now not be potential” if additional sanctions have been raised.
(Reporting by Alexander Ratz, writing by Thomas Escritt; enhancing by Grant McCool)
