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EU Agrees On Sanctions That Will ‘Hurt’ Russia

Rogue Valley

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2.23.22
EU members on Tuesday agreed a package of new sanctions against Russia that aims to inflict severe damage on the country after its recognition of breakaway regions in Ukraine, the EU foreign policy chief said. The 27 members of the EU unanimously agreed the measures at an informal meeting in Paris on the sidelines of an international forum, EU foreign policy chief Josep Borrell said. The sanctions will also target Russian parliament members who backed recognizing the breakaway regions as independent, a decision announced by President Vladimir Putin on Monday. "The sanctions will hurt Russia and will hurt a lot," Borrell said at a press conference with French Foreign Minister Jean-Yves Le Drian. Targets for asset freezes and visa bans included 351 members of the Duma, Russia's lower house of parliament, who appealed to Putin to recognize the two regions as independent, he added.

Le Drian, whose country holds the rotating EU presidency, said the member nations had "unanimously agreed on an initial sanctions package". He accused Russia of "violating international law" and "breaching its commitments." Borrell said the EU also agreed to target 27 individuals and entities "who are playing a role in undermining or threatening Ukrainian territorial integrity, sovereignty and independence". Banks financing Russian decision-makers and other operations in those territories are also being targeted, he said. There will be another meeting of EU ambassadors in Brussels later Tuesday when the sanctions are expected to be formally adopted. Le Drian said he would also cancel the Paris invitation to his Russian counterpart Sergei Lavrov for talks in the wake of Putin's announcement on the recognition of the breakaway regions. Announcing his decision, Le Drian said that recent developments had shown that Putin "no longer honors Russia's signature" on international accords.


The one sure way to hurt the Putin regime and its supporting oligarchs is to isolate/devastate their bank accounts.
 

Nomad4Ever

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Better to go after the oligarchs as much as possible rather than broader sanctions. It's not like Russia is a democracy. An unhappy populace won't change anything. Unhappy oligarchs might.
 

Nilhus

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These are all puppets of the US. The EU can't sanction Russia without punishing itself very badly, it might even end up worse than Russia in the long term.

Punishing Russia has the following effect on the EU:
- high energy prices which will result in:
* lower standard of living for the population(less disposable income)
* less competitive businesses(due to higher costs with energy )
- fewer exports(this less economic activity, fewer profits and salaries paid, fewer taxes collected)

In the long term, Russia might replace the EU market with the Chinese market, as the Chinese are transitioning from coal to gas.

Super stupid on the EU part!
 

Monica33

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That should have them laughing in the Kremlin .

And when they get bored with these silly attempted sanctions, Uncle Vlad will crack open a bottle and say ,

' Switch off the Gas comrades and let's see how they like a bit of cold '

And/Or fix the commodity markets to go 20% higher than we previously agreed and then make sure that everybody understands that it was the Demented One who is fully responsible .
 

Nomad4Ever

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These are all puppets of the US. The EU can't sanction Russia without punishing itself very badly, it might even end up worse than Russia in the long term.
What are you? A US chauvinist? Everything isn't about the US. This isn't a conflict between the US and Russia. Virtually the entire would has come out against Russia on this. At the UN Kenya made an especially powerful statement. The EU is choosing to participate in the sanctions entirely for their own self interest. They know that energy prices will go up, but it's a cost they are willing to pay if it can maintain peace/stability in the region. There are other EU members that are worried they will be next after Ukraine if the rest of Europe does not act.

That should have them laughing in the Kremlin .

And when they get bored with these silly attempted sanctions, Uncle Vlad will crack open a bottle and say ,

' Switch off the Gas comrades and let's see how they like a bit of cold '
Believe it or not, they have actually thought of that. The EU has already discussed temporary alternative sources of fuel.
 

jotathought

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The one sure way to hurt the Putin regime and its supporting oligarchs is to isolate/devastate their bank accounts.
A couple notes .. Putin definitely does not fear Biden .. and what I would anticipate is Biden will be like Obama, continue to draw red lines and do nothing meaningful when those lines are crossed. In addition, Russia won't be the only country to "suffer" from these sanctions. This will end up pausing the Nord Stream 2 pipeline, and Russia will just sell their gas to other countries -- it puts Germany in a bind more so than Russia. It'll be the genesis of an energy crisis and people won't be happy in the United States when they are paying high prices at the pump .... right before a midterm.
 
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