European Union Imposes Fresh Set of Sanctions on Russia
Jose Nino
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Since Russia launched its special military operation in Ukraine on February 24, 2022, the Collective West has imposed a series of sanctions on Russia.
The sanctions barrage has continued with the European Union imposed a new round of sanctions on July 21, 2022.
“We are effectively banning Russia’s most significant export after energy – Russian gold,” Vice President of the European Commission Josep Borrell stated.
In addition, the EU bolstered export controls on several high-technology goods and dialed up the pressure on sanctioned Russian individuals, thereby compelling them “to officially declare where they have assets in the EU so the holdings can be frozen,” per an AP report.
Ursula von der Leyen, the president of the European Commission, stated that “reinforced, prolonged EU sanctions against the Kremlin” send “a strong signal to Moscow: We will keep the pressure high for as long as it takes.”
Thus far, the EU hasn’t imposed broad-based sanctions on Russian oil imports owing to the supranational entity’s dependence on Russian oil and gas.
The Russian government described the latest round of sanctions as “illegitimate” and warned that it would have significant consequences for the global economy and security.
“The European Union is continuing to drive itself into a dead end with enviable persistence,” Russian spokeswoman for the Ministry of Foreign Affairs Maria Zakharova declared in a statement.
“The devastating consequences of EU sanctions on various segments of the global economy and security … are becoming increasingly obvious,” Zakharova continued.
Since Russia launched its military incursion in Ukraine on February 24, the Collective West has embarked on an energetic sanctions and military aid campaign against Russia. In effect, the Collective West has been waging a full-spectrum proxy war against Russia.
Sadly, this effort constitutes an act of economic seppuku as Russia makes gradual military gains and leverages its vast energy resources against the Collective West. In Europe’s case, engaging in this economic war against Russia will likely lead to wholesale reductions in everyday Europeans’ standards of living — a scenario that would have been unheard of decades ago. This is the product of the double whammy of bone-headed sanctions against Russia and green energy policies that have made it geo-economically vulnerable.
That’s the dilapidated state the West finds itself in the 21st century.
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