Fresh EU sanctions will “make Kremlin pay” for escalating in Ukraine -von der Leyen

Fresh EU sanctions will “make Kremlin pay” for escalating in Ukraine -von der Leyen By Reuters

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Commodities 32 minutes ago (Sep 28, 2022 10:18AM ET)

(C) Reuters. European Commission President Ursula von der Leyen and European Union Foreign Policy Chief Josep Borrell address the media on the Ukraine crisis, in Brussels, Belgium, September 28, 2022. REUTERS/Yves Herman

BRUSSELS (Reuters) – European Commission president Ursula von der Leyen proposed on Wednesday a new package of Russia sanctions, designed “to make the Kremlin pay” for escalating the conflict in Ukraine with what she called “sham” votes in occupied territory.

“We do not accept the sham referenda and any kind of annexation in Ukraine, and we are determined to make the Kremlin pay for this further escalation,” she told reporters in Brussels.

The proposed eighth sanctions package includes further import bans on Russian products, expected to deprive Moscow of an additional 7 billion euros ($6.7 billion) in revenues, and more export bans on key technology used for the military such as aviation items, electronic components and specific chemical substances, von der Leyen announced.

Beyond this, the sanctions package will lay the legal basis for an oil price cap and ban EU citizens from sitting on governing bodies of Russian state-owned companies, she said.

($1 = 1.0417 euros)

Fresh EU sanctions will “make Kremlin pay” for escalating in Ukraine -von der Leyen

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