Closure of airspace, freezing of assets of personalities or companies, questioning of financial or commercial links… Europe and the United States in the lead have multiplied announcements in recent days in order to dissuade Moscow from continuing its assaults. on Ukraine.
Guest of the morning of France info this Tuesday, March 1, Bruno Le Maire lingered on these new blows to Russia and immediately announced the color. “We are going to cause the collapse of the Russian economy” through these Western economic sanctions imposed in response to the Russian invasion of Ukraine, said the Minister of Economy. He added that “the economic and financial balance of power is totally in favor of the European Union which is in the process of discovering its economic power”.
🗣 Financial crisis in Russia ➡️ “Sanctions are extremely effective. We are going to wage a total economic and financial war on Russia”, declares Bruno Le Maire, Minister of the Economy. “We are going to cause the collapse of the Russian economy.” pic.twitter.com/uDCAvoNrMJ
— franceinfo (@franceinfo) March 1, 2022
Among the latest penalties imposed, the freezing of Russian Central Bank foreign currency assets held abroad caused the Russian currency to plunge on Monday (February 28th), as many Russians rushed to the bank to withdraw cash. . As a matter of urgency, Moscow yesterday prohibited its residents from transferring foreign currency abroad and forced Russian exporters to convert a large part of their income into rubles.
“Strengthening of sanctions”?
All of the Russian assets that will be frozen represent “almost 1 trillion dollars” according to Bruno Le Maire. “We are going to wage an all-out economic and financial war on Russia”he adds, the day after a massive increase in interest rates to 20% by the Russian Central Bank. “Companies will not be able to borrow except at high rates”also declared the Minister of Economy, affirming that Westerners are ready if necessary to “ further tightening of sanctions “As stated the day before by the Elysée.
However, Bruno Le Maire is certain: the sanctions already taken “hurt more than President Putin anticipated”. But not enough, for the time being, to put an end to Russian attacks on Ukrainian territory. The center of Kharkiv, the second largest city in the country, located not far from the Russian border, was again bombarded on March 1 by the Russian army, according to the governor of the region, Oleg Sinegoubov. This is also the case of the town of Okhtyrka, a little further north, which caused the death of 70 Ukrainian soldiers.
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If Moscow claims not to target civilian areas, several bombings have been observed in different residential areas. Ukraine has presented an initial assessment of civilian casualties established at 350 dead since the start of the war on February 24. Russia, meanwhile, admitted that Russian soldiers had died in Ukraine, without specifying the number.