HomeBhojpuriNew sanctions from the European Union "disabled person" Putin amid Ukraine invasion

New sanctions from the European Union "disabled person" Putin amid Ukraine invasion


European Union chief Ursula von der Leyen held a video conference with the leaders of the US, Germany, France, Italy and Canada about the invasion.

New EU sanctions to 'cripple' Putin amid Ukraine invasion

The Allies also agreed to impose further sanctions on Russian oligarchs amid invasion of Ukraine

European Commission chief Ursula von der Leyen said on Saturday that Brussels would propose freezing the assets of the Russian central bank in a major increase in sanctions against Moscow following Ukraine’s invasion.

Von der Leyen also said the EU would remove “some” Russian banks from the SWIFT payment system in response to a key demand from Kiev to punish Russian President Vladimir Putin.

Von der Leyen said these new measures would “paralyze Putin’s ability to finance his war machine.”

She was speaking after a videoconference with the leaders of the United States, Germany, France, Italy and Canada aimed at coordinating the West’s response to the invasion.

The Allies also agreed to impose further sanctions on Russian oligarchs, including “measures to limit the sale of citizenship – so-called golden passports – that allow wealthy Russians affiliated with the Russian government to become citizens of our countries”.

Von der Leyen said she would propose to EU leaders, who could request amendments to reduce the impact of the measures on their economies.

The new wave of sanctions was an extraordinary leap in a few days, made possible by a sudden reversal of Germany’s opposition to the Swift ban on Russia.

SWIFT’s messaging system allows banks to rapidly and securely communicate about transactions, and cutting off Russia would cripple its trade with much of the world.

Italy, Hungary and Cyprus were also opposed to the SWIFT ban, but have come around to the idea in the face of international outcry over Russia’s invasion of its neighbor.

In an apparent concession to Berlin, the powers agreed that the ban would apply only to selected banks in order to avoid backfiring too harshly on European businesses.

In perhaps the most unexpected new measure against Putin, the powers agreed to limit the Russian central bank’s ability to access its vast foreign reserves.

This is estimated to be more than $600 billion and is a huge windfall of Russia’s immense energy wealth.

Von der Leyen said, “That would halt its transactions. And make it impossible for the central bank to liquidate its assets.”

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