Western sanctions to cut Russia off from world markets - von der Leyen

This was stated by Ursula von der Leyen, the European Commission President, Ukrinform reports with reference to DW.

The sanctions, drafted by the EU and the United States, are aimed at "essentially cutting off Russia from international financial markets," von der Leyen told Germany’s ARD TV channel.

According to the top official, in economic terms, all penalties will be imposed on "goods that Russia desperately needs to modernize and diversify its economy, the ones we produce and maintain global leadership in their regard, the ones Russia can’t replace."

At the same time, the head of the European Commission spoke out against imposing sanctions immediately. She explained that the West still gives Russia a chance to return to diplomacy and sit down at the negotiating table. "And this window of opportunity remains open," the politician stressed. She is convinced that the final decision now depends entirely on Russian President Vladimir Putin, and that Russia is "listening very carefully to what we are saying."

Russia's economy is "almost entirely focused on oil, coal, and gas," von der Leyen said, recalling that the fuel and energy sector accounts for two-thirds of Russia's exports, and that it feeds half of the country's budget.

Nothing good must be expected in Russia "if the Russian economy receives another severe blow from sanctions," warned the head of the European Commission.

It should be recalled that during her speech at the Munich Security Conference, Ursula von der Leyen stated that the European Union is ready to immediately impose sanctions on Russia should it launch an act of aggression against Ukraine. These measures will cover the most important sectors of the Russian economy, including energy and technology.

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