President of European Commission reveals Russia's weaknesses to be hit by sanctions in case of invasion
European Commission President Ursula von der Leyen has revealed some of the nuances of sanctions that Moscow will face if Russia invades Ukraine.
She announced this on ARD, Reuters reports.
The President of the European Commission said that Russia would be cut off from international financial markets and would not be able to gain access to major export goods.
Western leaders have so far refused to disclose the details of the responses they agreed to if Russia invaded.
Only a military response was reported and unprecedented economic sanctions were promised.
"Russia will, in principle, be cut off from international financial markets," von der Leyen said.
Sanctions will be imposed on "all the goods that Russia urgently needs to modernize and diversify its economy, and which we produce; there is no substitute for them," she said.
Von der Layen rejected Saturday's calls by Ukrainian President Volodymyr Zelenskyy for immediate sanctions.
"The sanctions movement is so huge and significant that we know we should always give Russia a chance to return to diplomacy and to the negotiating table," she said. "This window is still open."
Von der Leyen also noted that Russia's weakness is its dependence on fossil fuel exports.
"It accounts for two-thirds of exports (Russia – ed.), and half of Russia's budget depends on it," said the European Commission president.
