• Thursday, March 28, 2024
businessday logo

BusinessDay

EU to ‘swiftly’ adopt new sanctions package against Russia

EU to ‘swiftly’ adopt new sanctions package against Russia

The European Union will impose new “massive and severe’’ sanctions on Russia, European Commission President Ursula von der Leyen and Council President Charles Michel said in a statement on Thursday.

EU leaders were due to meet in Brussels at 8 p.m for an emergency summit announced on Wednesday, ahead of Russian President Vladimir Putin’s decision to attack eastern Ukraine.

The European Union imposed the first set of sanctions on Wednesday, following Putin’s recognition of independence for the breakaway provinces of Luhansk and Donetsk.

Read also: Oil crosses $100 for first time since 2014 after Russia orders troops into Ukraine

The 27 leaders would discuss “further restrictive measures that will impose massive and severe consequences on Russia for its action, in close coordination with our transatlantic partners,’’ Michel and von der Leyen said.

This new sanctions package would be “swiftly’’ adopted, they added.

The top EU officials strongly condemned Russia’s “unprecedented military aggression.’’

“By its unprovoked and unjustified military actions, Russia is grossly violating international law and undermining European and global security and stability,’’ they added.