If Russia resorts to a new invasion of Ukraine, it will face isolation from international financial markets. This was stated by Ursula fund Leyen, President of the European Commission, DW reports. However, she opposed imposing sanctions "in advance" and expressed the hope that Moscow would wise up.
The EC clarified that restrictive measures would be introduced on products that Russia badly needs "to modernize and diversify its economy" produced by the EU member states. The Russian Federation would not be able to replace them, von der Leyen stressed.
She added that the Russian economy is largely dependent on the export of oil, coal, and gas. It accounts for half of the Russian Federation budget, the EC noted.
However, von der Leyen stated that she hoped for a diplomatic settlement of the situation, and therefore did not consider it necessary to impose sanctions before a new attack, as demanded by the Ukrainian side.
Context. President Volodymyr Zelenskyy, during his speech at the Munich Security Conference, criticized Western partners for their policy of "appeasement" of Russia. He pointed out the need to introduce preventive measures against the aggressor.
In turn, the U.S. Secretary of State Antony Blinken stated that Western countries did not make a list of potential sanctions against Russia public so that Moscow did not have time to prepare for them. He also stressed that once they are imposed, "the deterrent will be gone."
However, the EU, the U.S., and the UK once again stressed that tough sanctions would certainly be imposed against the Russian Federation in case of an invasion.
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