The EU said “Vladimir Putin must and will fail” because of approving new sanctions
President Vladimir Putin “must and will fail,” said the top European Union leaders on Friday as they agreed to new sanctions on the invasion of Ukraine, said he tried to bring the continent back to the era of royal and confrontation.
Russia launched an invasion with land, air and sea on Thursday after the declaration of war with Putin. It is estimated that 100,000 people fled as explosions and shots rocked big cities. Dozens have been reportedly killed.
The block leaders agreed on the principle of the emergency overnight Summit to impose new economic sanctions, join the United States and others in taking steps such as curbing Russian access to technology.
The European Union will freeze Russian assets in the block and stop access to its banks to the European Financial Market as part of what the Head of EU Foreign Policy Josep Borrell is described as “the hardest sanctions package ever conducted”.
“This package includes financial sanctions, targeting 70% of the Russian banking market and state-owned companies, including in defense,” said the Head of the Ursula Commission Von Der Leyen on Twitter.
He said at a press conference that the sanctions, which also limited Russian access to the financial market, would increase the cost of Russian loans and increase inflation there.
Von Der Leyen also said that the export sidewalk to Russia will hurt the oil sector by stopping access to the material needed from the EU for its oil refinery. It will, over time, triggering thinning in Russian oil purification income, he said.
However, while the United States issued detailed sanctions on Thursday, EU countries, split down how far there, imitated details to be done in the coming days.
French President Emmanuel Macron said at the same press conference that war showed Europe needed to be a real and independent force in the field of energy and security.
