EU’s Ursula von der Leyen tells how union’s sanctions have hit Russia, says Sberbank next target

18 April, 04:43 PM
Ursula von der Leyen says that a default by Russia is only a matter of time (Photo:Kenzo Tribouillard/Pool via REUTERS)

Ursula von der Leyen says that a default by Russia is only a matter of time (Photo:Kenzo Tribouillard/Pool via REUTERS)

Exports to Russia have already fallen by 70%, and the next target of European sanctions is Russian banking company Sberbank, the Head of the European Commission Ursula von der Leyen said in an interview with German newspaper Bild.

“Sanctions are getting deeper into the Russian economy every week: exports to Russia fell by 70%,” she said.

“Seven hundred Russian aircraft have lost their licenses due to a lack of spare parts and software updates. Hundreds of large companies and thousands of professionals are turning away from the country. According to current forecasts, Russia’s gross domestic product will fall by 11%.

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“Russia’s national bankruptcy of is only a matter of time. With this war, Putin is destroying his country and the future of its people.”

Von der Leyen also said that the EU was preparing another package of sanctions that will affect Russian state savings bank Sberbank: “We are looking further at the banking sector, especially Sberbank, which accounts for 37% of the Russian banking sector,” she said.

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