EU Will Freeze Russian Assets and Stop Russian Banks to Jump in EU Financial Markets

The first bangs in Ukraine came at just after 5 a.m. on Thursday, putting a definite end to any speculation about what Russian President Vladimir Putin intended to do. The explosions were coming from some distance away from the city center but were clearly audible across the Ukrainian capital.

Now, the war situation is now at a very serious level.

EU Hit Russia With New Sanctions

European Union Commission President Ursula von der Leyen promised to “weaken Russia’s economic base and its capacity to modernize” following the “barbaric attack” by Moscow against Ukraine.

“We will freeze Russian assets in the European Union and stop the access of Russian banks to European financial markets,” Von der Leyen told reporters on Thursday, “We condemn this barbaric attack and the cynical arguments that are being used to justify it.”

“These sanctions are designed to take a heavy toll on the Kremlin’s interests and their ability to finance war. And we know that millions of Russians do not want war,” she said. “We will not allow President [Vladimir] Putin to replace the rule of law, by the rule of force, and ruthlessness. Ukraine will prevail.”

Besides that, Japan will suspend the issuance of visas and freeze the assets of people involved in recognizing the independence of Donetsk and Luhansk, the two separatist-held pro-Moscow regions in eastern Ukraine.

Japan will also ban imports and exports to and from Donetsk and Luhansk, and prohibit the issuance and circulation of Russian bonds in Japan.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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