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Tipsheet

EU to Hit Russia With New Sanctions Over Its ‘Barbaric’ Invasion of Ukraine

Yuri Kochetkov/Pool Photo via AP

Leaders in the European Union (EU) will impose new sanctions on Russia following its “barbaric attack” on Ukraine

According to a report from Reuters, the sanctions will include freezing its assets, halting its banks’ access to European financial markets and targeting “Kremlin interests.”

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Reuters added that an Emergency Summit will occur on Thursday. President of the European Commission Ursula Von der Leyen said in an emergency statement early Thursday that “President Putin is responsible for bringing war back to Europe” and that the EU will hold him accountable. 

“What we are facing is an unprecedented act of aggression by the Russian leadership against a sovereign, independent country,” she added.

"With this package, we will target strategic sectors of the Russian economy by blocking their access to key technologies and markets," she continued.  "We will weaken Russia's economic base and its capacity to modernize.”

As Spencer covered, Russian President Vladimir Putin announced the beginning of a “special military operation” in Ukraine as Wednesday turned into Thursday in Eastern Europe. Putin gave televised remarks in Moscow just before 6:00 a.m. Moscow time that included a threat to the United States and NATO countries in Europe, stating that any country that tries to intervene on Ukraine’s behalf will lead to “consequences that you have never had before in your history.”

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Videos and reports have emerged from several Ukrainian cities that appear to show explosions and air raid sirens.

German Foreign Minister Annalena Baerbock told reporters at a news conference in Berlin early Thursday that the EU plans to unleash a “full packet of sanctions” against Russia for its invasion of Ukraine.

“Today, we are waking up in a different Europe, in a different world. With the military attack on Ukraine, the Russian government is breaking the most fundamental rules of the international order, right in front of the eyes of the world,” Baerbock said

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“We will launch the full package of massive sanctions against Russia,” she added. “If we do not take a firm stance now, we will pay an even higher price.”

This week, Germany halted certification of the Nord Stream 2 pipeline, which would have supplied Germany with Russian gas.

“For us as the German government, it was important to show that for a free and democratic Ukraine, we are willing to also accept consequences for our national economy,” she added. ”Peace and freedom in Europe don’t have a price tag.”

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