European Union (EU) sanctions against Russia in the event of an invasion of Ukraine will affect the energy sector and access to high technology. About it stated President of the European Commission (EC) Ursula von der Leyen.
“In the event that Russia strikes, we will limit access to financial markets for the Russian economy and impose export restrictions that block Russia’s ability to modernize and diversify its economy. We have a lot of high-tech goods in which we have dominance, and they cannot be easily replaced by Russia,” the head of the EC said.
Putin announced the inevitability of new Western sanctions against Russia
She noted that this package of sanctions was coordinated with the US, Canada and the UK.
Earlier, on February 17, US Treasury Secretary Janet Yellen said that Washington, along with the EU, is developing measures that could affect Russian individuals and companies in the event of an invasion and include export controls, these restrictions “would have serious consequences for the Russian economy.” However, she acknowledged concerns about the possible impact of sanctions on energy markets. Yellen said the United States and the EU are working to bring oil and gas supplies to Europe.