EU proposes 'solid' and 'calibrated' sanctions package

European Commission President Ursula von der Leyen made a statement following the political agreement reached today (22 February) by foreign ministers to impose further sanctions on Russia. The agreement was made at an informal meeting in Paris and will take legal affect soon. 

Von der Leyen said that Russia was not respecting its international obligations and that it was violating the principles of international law by recognising the regions of Donetsk and Luhansk, as well as sending troops to these regions. 

The sanctions package was described as “solid” and “calibrated”. The measures will target  individuals and companies involved in these actions, banks that finance the Russian military apparatus and contribute to the destabilisation of Ukraine. As it did with Crimea in 2014, the EU will also ban trade with the regions. More significantly, the EU will limit the Russian government´s ability to raise capital on the EU's financial markets. 

In addition to the agreement on sanctions, von der Leyen welcomed the German government's decision on Nord Stream 2. 

“If Russia continues to escalate the crisis that it has created,” said von der Leyen. “We are ready to take further action in response. The EU is united and acting fast.”

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