EU’s strongest ever sanctions will make Russian economy face decade of recession, EC president says

17 January, 06:32 PM
Ursula von der Leyen also assured that support for Ukraine will continue (Photo:REUTERS/Arnd Wiegmann)

Ursula von der Leyen also assured that support for Ukraine will continue (Photo:REUTERS/Arnd Wiegmann)

The European Union’s strongest ever sanctions package leaves the Russian economy facing the prospect of a decade of recession, President of the European Commission Ursula von der Leyen said at the World Economic Forum in Davos, Switzerland, on Jan. 17.

“We have put in place the strongest sanctions ever, which leave the Russian economy facing a decade of recession, and its industry starved of all modern and critical technologies,” she said.

“There will be no impunity for these crimes (Russia has committed in Ukraine).”

Von der Leyen also reaffirmed that the European Union would continue to support Ukraine.

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“In this last year, your country has moved the world and inspired all of Europe,” the official said, addressing the Ukrainian people.

“And I can assure you that Europe will always stand with you.”

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