EU sanctions Russia for violating Ukraine's 'territory and sovereignty'
Wednesday February 23 2022
Russian President Vladimir Putin speaks during his address to the nation at the Kremlin in Moscow on February 21, 2022. PHOTO | ALEXEY NIKOLSKY | SPUTNIK | AFP
The European Union has issued new sanctions following Russia’s decision to recognise two regions of Ukraine as independent states.
The new sanctions directly target those who were involved in the “illegal” decision and banks that finance the Russian military, the European Council and European Commission said in a joint statement issued on Tuesday afternoon.
In the statement, the executive bodies of the European Union said that the new sanctions will also target Russia’s ability to access the EU’s capital and financial markets and services. It will also affect trade with the two breakaway regions of Ukraine.
“Both Presidents [of the European Council and European Commission] welcome the steadfast unity of Member States and their determination to react with robustness and speed to the illegal actions of Russia in close coordination with international partners,” the statement read.
This came just hours after Russia’s President Vladimir Putin recognised the Donetsk and Luhansk regions in eastern Ukraine as independent, a decision which the EU has termed as “illegal and unacceptable.”
“It violates international law, Ukraine’s territorial integrity and sovereignty, Russia’s own international commitments and it further escalates the crisis,” the joint statement read.
The EU said more sanctions will follow if Russia continues to escalate its aggression towards Ukraine.
“The Union remains in full solidarity with Ukraine and united in support for its sovereignty and territorial integrity,” it said.
On Tuesday, US President Joe Biden signed an executive order sanctioning any American who invests in the two breakaway regions of Ukraine.