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On February 25, 2022, foreign media reported that the President of the European Union Commission, Ursula von der Liyen, said the European Union (EU) would block Russia from accessing key technologies and other markets to Punishment for Russia invasion of Ukraine
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Von der Liyen announced the new sanctions, hours after Russia launched a full-scale invasion of Ukraine. by sending troops across the border from many directions and dropped bombs across the country
Von der Leyen said the innocent were dying of fear. And she has pledged to the EU to respond vigorously to Russia's actions.
“We will focus on the strategic sectors of the Russian economy. "By blocking access to technology and markets, that's the key to Russia," Von Fur Lyen said, reading a prepared statement. “We will freeze Russian assets in the European Union. and blocking Russian banks from accessing European financial markets.”
“These sanctions are designed to seriously damage the interests of Russia. and Russia's war-torn capability.”
The diplomat stated that The EU Commission presented the draft measure to ambassadors from EU countries on Thursday morning local time. which includes technology export control both technologies linked to oil and transportation Further sanctions were also imposed on banks as well as individuals.
However, the sanctions did not include expulsion of Russia from Swift (SWIFT), the international payment system. The Baltic states have called for the expulsion of Russia from the system. But Germany and Italy have also shown hesitation.
One diplomat said “Right now Swift isn't ready. But political decisions are required. This decision is up to the leader.”
