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Home Economics

EU REACTS AS IT PROPOSES TO WEAKEN RUSSIA’S ECONOMIC BASE BY FREEZING ALLITS ACCOUNTS, OTHERS.

Rate Captain by Rate Captain
February 24, 2022
in Economics, News, Power
Reading Time: 1 min read
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The President of the European Commission, Ursula von der Leyen, has stated that new sanctions will be imposed on Russia following the attack against Ukraine.

She mentioned this in an emergency statement where she highlighted the sanctions to include stopping access of Russia’s banks to the European financial market, freezing its assets in the EU and targeting the Kremlin interests.

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On Wednesday, the first form of sanctions were approved by the EU which included blacklisting Russian politicians and curbing trade between the EU and two breakaway regions of eastern Ukraine recognized by Putin.

What the EU is saying…

The European Commission’s president has declared President Putin is to be held accountable for the return of war to Europe.

Also, Josep Borell, the bloc’s foreign policy chief, said the new sanctions to be imposed on Russia will be discussed at the evening summit of the National EU leaders to be held today and it will be “the harshest package of sanctions ever implemented.”

Mr Borell additionally noted that the attack was one of the darkest moments for Europe since the end of the World War Two, and that Russia’s leadership will face unprecedented separation.

However, the emergency summit scheduled to hold today will start by 19:00 GMT, i.e. 7pm in Nigeria.

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