EU’s Sanctions Against Russia Will Have Negative Impact on it’s own Nations

The European Union Commission said that EU sanctions against Russia will have a negative impact on the economies of EU member nations.

This is reported by TASS with reference to the statement of the EC.

It is noted that after the coronavirus pandemic, the countries of the union faced new uncertainty in connection with the Ukrainian crisis “combined with existing problems such as inflation and high energy prices.”

“Our sanctions will inevitably have negative consequences for the economy,” the statement said.

On February 25, the head of the European Commission, Ursula von der Leyen, said that the package of EU sanctions would  affect 70% of the Russian banking market and key state-owned companies.