LONDON (Bywire News) - Ursula von der Leyen, the European Commission President, revealed some of the sanctions that Russia would face if it invaded Ukraine. She stated that Russia would be cut off from the international financial markets and would not have access to export markets for some of its biggest export goods.
The leaders of the West have refused to disclose the details of the plans they agreed to give to Russia if they invaded. Instead, they have said that they will send a military force and promise massive economic sanctions.
From now on, the Russian authorities would be completely shut off from all the international markets, of course, Leyen told public television late on Sunday evening. If this happens, "all goods we make that Russia urgently needs to modernise and diversify its economy, where we are globally dominant and they have no replacement," she stated.
She added that sanctions would not be imposed until after a possible invasion. This is despite repeated requests from Ukrainian President Volodymyr Zelenskiy for immediate sanctions.
According to Leyen, the consequences of the decision to force sanctions on Russia are very significant and it is known that Russia must be given a chance to return to diplomacy and to negotiate. She said, "The window is still open."
The Russian government has 1,50,000 troops covering its borders. President Vladimir Putin wants a guarantee that Ukraine will never join the NATO Alliance, something that is essential to ensure the country's security.
Ursula von der Leyen, who heads the executive of the 27-member European Union, said that Russia was reliant on the export of fossil fuels. That was its weakness.
They produce two-thirds of Russia's exports. She merely states that half of the Russian economic system originates from these individuals. Russia should modernise, and only if the sanctions are raised will that be possible.
(Writing by David Argyle, editing by Klaudia Fior)