Connect with us

Hi, what are you looking for?

Business News

EU chief: Russia could be cut off from markets, tech goods

European Commission President Ursula von der Leyen speaks at the Munich Security Conference in Munich, Germany, Saturday, Feb. 19, 2022. (AP Photo/Michael Probst)

MUNICH (AP) — Moscow would have its access to financial markets and high-tech goods limited under Western sanctions being prepared in case Russia attacks Ukraine, a top European Union official said Saturday.

The comments from Ursula von der Leyen, head of the EU’s Executive Commission, came as tensions over Russia’s intentions toward Ukraine intensified. U.S. President Joe Biden said Friday he was convinced” that Russian President Vladimir Putin has decided to invade the neighboring country.

“The Kremlin’s dangerous thinking, which comes straight out of a dark past, may cost Russia a prosperous future,” von der Leyen said during the annual Munich Security Conference, where U.S. Vice President Kamala Harris also spoke.

Von der Leyen said the EU’s executive arm has developed a “robust and comprehensive package” of possible financial sanctions against Russia with the U.S., U.K. and Canada.

“In case that Russia strikes, we will limit the access to financial markets for the Russian economy and (impose) export controls that will stop the possibility for Russia to modernize and diversify its economy,” she added. “And we have a lot of high-tech goods where we have a global dominance, and that are absolutely necessary for Russia and cannot be replaced easily.”

“In case that Russia strikes, we will limit the access to financial markets for the Russian economy and (impose) export controls that will stop the possibility for Russia to modernize and diversify its economy,” she added. “And we have a lot of high-tech goods where we have a global dominance, and that are absolutely necessary for Russia and cannot be replaced easily.”

“In case that Russia strikes, we will limit the access to financial markets for the Russian economy and (impose) export controls that will stop the possibility for Russia to modernize and diversify its economy,” she added. “And we have a lot of high-tech goods where we have a global dominance, and that are absolutely necessary for Russia and cannot be replaced easily.”

Copyright 2021 Associated Press. All rights reserved.

Source: https://apnews.com/article/russia-ukraine-joe-biden-business-munich-ursula-von-der-leyen-2c6fecfb1212c65338547bff96029f96

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Business News

EUGENE, Ore. (AP) — Psilocybin tea, wind chimes and a tie-dye mattress await those coming to an office suite in Eugene to trip on...

Business News

The U.S. government is taking aim at what has been an indomitable empire: Google’s ubiquitous search engine that has become the internet’s main gateway....

Accidents

LAHAINA, Hawaii (AP) — Ambulance and fire truck sirens wailed outside as Elsie Rosales stripped linens from king-sized mattresses at a beachfront resort in...

Accidents

TAFEGHAGHTE, Morocco (AP) — Survivors with shovels worked alongside bulldozers Monday to dig through remote Moroccan villages flattened by a monstrous earthquake, as hope dwindled...

Copyright © 2023 Newsworthy News | Global | Political | Local | All News | Website By: Top Search SEO