Von der Leyen left open whether this meant Russia's exclusion from the Swift international banking communications network. However, Western financial institutions would also be hit hard by this, since it would then become considerably more difficult to transfer money to and from Russia.
Sanction goods "that Russia urgently needs"
According to von der Leyen, the economic sanctions would "affect all goods that Russia urgently needs to modernize and diversify its economy, but which are produced by us, where we have global dominance and which Russia cannot replace". Russia's economy depends very heavily on the export of fossil fuels, around half of the national budget is fed from it. In addition, inflation is very high at almost nine percent.She explained that there was broad agreement on these steps with Western partners such as the USA, Canada and Great Britain.
Putin tried to divide Europe with disinformation, cyber attacks and other means. However, he did not succeed in this; on the contrary, there is such a lively exchange as it has not been for a long time. With the threat of sanctions, von der Leyen hopes to dissuade Moscow from a possible plan of attack and encourage further negotiations.
Gas supply in winter is secured
Von der Leyen does not make a clear statement about Nord Stream 2. First, the Federal Network Agency must answer the question of the approval of the pipeline. "Then it will be presented to the Commission and we will then carry out the assessment process."
In addition, the security of supply in Europe must also be taken into account. At least for this winter, however, she gave the all-clear: until then, in an emergency, Europe could also import liquid gas from other regions of the world.
Sanctions also affect the German economy
Federal Minister of Economics Robert Habeck has meanwhile prepared the public for serious economic consequences of possible sanctions. You have to say clearly "that sanctions will also hit our own economy hard," the Green politician told the "Handelsblatt".
In view of the intensified conflict in Ukraine, Lithuania and Latvia are demanding immediate western sanctions against Russia and a strengthening of NATO's eastern flank.
https://www.tagesschau.de/ausland/vonder...n-101.html
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