2022-12-27T22:34:00+02:00 Politics 2024-09-15T06:04:55+03:00

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Sanctions Against Russia Working, Although They Will Not Stop War By Themselves - Borrell

Sanctions Against Russia Working, Although They Will Not Stop War By Themselves - Borrell

The High Representative of the European Union for Foreign Affairs and Security Policy, Josep Borrell, considers the sanctions introduced by the European Union against Russia to be effective, and is convinced that their effect will become more noticeable over time.

He said this in an interview with PAP, European Pravda writes.

When asked whether he considers the EU sanctions to be effective, the diplomat answered in the affirmative.

"Sanctions, combined with military support, international pressure and diplomatic efforts, are bearing fruit. And the more time passes, the more painful they will become for the leadership in the Kremlin and the Russian economy," Borrell said.

He noted that the main goal of sanctions restrictions is to make it difficult for Putin to finance the Russian military machine.

"Sanctions are not a panacea, they will not stop the war by themselves. This is only one of the tools that we used, but it is already obvious that they are working and have serious consequences for Russia: the Russian economy has suffered significantly and is losing its ability to modernize," added the diplomat.

He noted that, according to OECD forecasts, the economy of the Russian Federation will shrink by 5.6% in 2023, the largest among the countries of the Group of Twenty; that more than 1,000 international companies, which accounted for about 40% of Russia's GDP and supported 5 million jobs, left Russia by decision, and the EU has already reduced imports of Russian oil by 90% and reduced dependence on Russian gas to a record.

We will remind you that Switzerland expanded the list of sanctions against the Russian Federation in accordance with the latest decision of the European Union.

In addition, the USA threatened Lukashenko with new sanctions in case of providing additional military aid to Russia.