'Bloody massacre': Ukrainian Defense Minister on potential Russian invasion

European Commission warns Russia that EU sanctions will 'bite very hard'

The head of the European Commission has warned Russia that EU sanctions “can bite very hard” as she urged the Kremlin not to choose war.

In a speech to the European parliament in Strasbourg, Ursula von der Leyen said EU institutions and member states were working on a “robust and comprehensive package of potential sanctions” in cooperation with the US, UK and Canada. These sanctions would hit Russian access to hi-tech components, she said, making it harder for Russia to diversify its economy away from oil and gas.

Von der Leyen said:

We are not just talking about freezing assets and banning travel for Russian individuals. Russia’s strategic interest is to diversify its one-sided economy and to close its current gaps. But for this, they need technologies in which we have a global leadership. High-tech components for which Russia is almost entirely dependent on us. Our sanctions can bite very hard, and the Kremlin knows this well.

Speaking at the same debate, the president of the European Council, Charles Michel, said any aggression against Ukraine from Russia must lead to a “severe” cost and massive consequences. He acknowledged the EU would also pay a price, saying Europeans would also face “heavy” consequences, but had to be ready to assume this responsibility.

Sanctions would have to be agreed unanimously by all EU member states and there are already concerns that some countries, such as Hungary, will thwart adoption of the toughest measures. In 2014 the EU agreed on wide-ranking economic sanctions against Russia in response to its support for separatists in eastern Ukraine, but only after the downing of the MH17 passenger plane that killed 298 people.

MEPs are expected later on Wednesday to approve a €1.2m assistance package for Ukraine, recently proposed by von der Leyen.