(Berlin / Washington Composite Electric) Europe and the United States have formulated specific powerful economic sanctions for Russia's invasion of Ukraine.The European Commission Chairman Feng Delin revealed some sanctions details on Sunday.She said that if invasion, Russia will be cut off to connect with the international financial market and cannot obtain important export products.
Feng Delin emphasized in an interview with the German ARD TV station that Russia and other Russia will be implemented before the sanctions will be implemented.
Feng Delin explained: "Because the impact of resorting to sanctions is huge, there will be consequences, and we must give Russia's opportunity to return to diplomatic and negotiating tables. This window is still open."
Feng Delin mentioned that Russia's dependence on fossil fuel export has become a major weakness of the economy."It accounts for two -thirds of exports and provides half of Russia's fiscal revenue." She reminded Russia to modernize the economy. Once the sanctions are started, this goal cannot be achieved.
In addition, Reuters quoted sources revealed that the Bayeng government in the United States has prepared a preliminary sanctions plan against Russia, including prohibiting US financial institutions from dealing with Russian major banks.
The purpose of this is to cut off the "agency" relationship between Russian target banks and the US banking industry in international payment business to harm the Russian economy.Similarly, US sanctions are implemented only after the invasion of Ukraine in Russia.
Sources said that the United States will also deal with Russia's individuals and companies, and list them on the list of "special designated nationals" (SDN), exclude them outside the US banking system, prohibit them from with the United States with the United StatesHuman transactions and frozen their US assets.
The White House and the Ministry of Finance refused to report on this report.Sources said that sanctions will be changed at any time. At this stage, the object of sanctions is still unclear, but I believe it will be the top financial institutions for Russia, including Russia's Foreign Trade Bank (VTB), the Russian Federal Savings Bank (Sberbank) and the Russian Foreign Economic Bank (VEB), Gazprombank, Russia may also be the object of sanctions.