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The European Union has agreed to impose a range of sanctions on Russia including curbs on Moscow’s ability to raise capital on the EU’s financial markets, European Commission President Ursula von der Leyen said Tuesday.
In a short statement, von der Leyen outlined the bloc’s response to Russian President Vladimir Putin’s decision to recognize as independent the separatist-held areas of Donetsk and Luhansk in eastern Ukraine and to deploy troops there.
“This solid package contains a number of calibrated measures. It is a clear response to these violations of international law by the Kremlin,” von der Leyen said.
She said the new package includes sanctions that “directly target individuals and companies involved in these actions,” as well as “banks that finance the Russian military apparatus and contribute to the destabilization of Ukraine.”
“We are limiting the Russian government’s ability to raise capital on the EU’s financial markets. We will make it as difficult as possible for the Kremlin to pursue its aggressive actions,” von der Leyen said.
Von der Leyen said EU members had reached “political agreement” on the sanctions and would now “quickly finalize” the package.
The EU will also ban trade with the breakaway regions as part of the measures, according to the Commission president.
Von der Leyen also issued a warning to the Kremlin.
“Our action today is a response to Russia’s aggressive behavior. If Russia continues to escalate this crisis that it has created, we are ready to take further action in response,” she said. “The European Union is united and acting fast.”
Source: Politico
