Borrel: "Sanctions should create big economic problems for the Russian Federation"

Josep Borrell

© APA | Josep Borrell

# 18 July 2022 19:38 (UTC +04:00)

EU sanctions will not stop hostilities in Ukraine in a short time, but should create big economic problems for the Russian Federation, this was stated on July 18 by EU High Representative for Foreign Affairs and Security Policy Josep Borrell, APA reports citing BB-CNTV.

He several times called disinformation the opinion that Western sanctions against Russia do not work.

Borrell also confirmed the EU’s decision to allocate an additional €500 million to Ukraine for armaments, based on the fact that hostilities there will continue. According to him, all the ministers were united in their position to continue the comprehensive support of Kyiv. The head of EU diplomacy did not name specific terms for the allocation of new funding.

Earlier, Borrell said that after Russia launched a special operation Brussels moved from intentions to actions, and at the heart of this reaction are economic steps. He assured that anti-Russian sanctions “are already beginning to have an impact that will only increase in the coming months.”

In particular, the Russian military-industrial complex has already felt the effects of restrictions, Borrell said. He also argued that Moscow faced difficulties in the field of oil production, as there are difficulties in using advanced technologies such as horizontal drilling, and foreign companies in this area leave the Russian market.

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