FRI 25 FEB, 2022-theGBJournal- The European Commission (EU) late Thursday imposed a raft of new sanctions on Russia, announced by the EU Commission President Ursula von der Leyen, as war the against Ukraine takes its toll and casualties mount on both sides mount.
The sanctions includes, targeting 70% of Russian banking market and key state owned companies, including in defence. The Russian energy sector, a key economic area which the EU said ‘’especially benefits Russia state,’’ is also targeted.
von der Leyen said during a press conference that the EU export ban will hit Russia’s oil sector by making it impossible for Russia to upgrade its refineries.
The third ban announced targeted the sale of aircrafts and equipment to Russian airlines. The EU is also seeking to limit Russia’s access to crucial technology, such as semiconductors or cutting-edge software.
The EU announced that diplomats and related groups and business people will no longer have privilege access to the European Union.
The U.S President Joe Biden had earlier announced a new round of sanctions and limitations in response to what he calls ‘’Putin’s war of choice against Ukraine.’’
‘’We have purposefully designed these sanctions to maximize the long-term impact on Russia, and to minimize the impact on the United States,’’ Biden said, referring to what the U.S can export to Russia.
Biden said some of the most powerful impacts of the U.S actions will come over time as ‘’we squeeze Russia’s access to finance and technology for strategic sectors of its economy.’’
He earlier had met with G7 counterparts to discuss the ‘’Putin’s unjustified attack on Ukraine’’ where they agreed to move forward with on devastating packages of sanctions and other economic measures to hold Russia to account.
Meanwhile, Ukrainian President Volodymyr Zelensky has pleaded with Western allies to do more to stop Russia’s assault on his country and appealed to Russia to cease fire during an address to the nation. He said 137 Ukrainian citizens, both soldiers and civilians died Thursday as Russia closed on the capital, Kyiv where several explosions were heard.
President Zelensky also confirmed that Russia had conducted multiple missile strikes on both military and civilian targets, including multiple missile strikes Thursday.
U.S Secretary of State Antony Blinken, in an interview with ABC said he is convinced that Russian President Vladimir Putin will try to overthrow the Ukrainian government.
‘’It was part of the Russian plan to assault the capital Kyiv and other major cities in Ukraine, along with launching a multi-pronged attack on the country from the north, east and south borders,’’ Blinken told ABC.
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