The Western camp is increasing economic pressure on Moscow, paving the way for punitive tariffs and halting trade with Russia.
The European Union and the Group of Seven (G7), along with Washington, have abolished Moscow’s “rather favorable position”, facilitating the free exchange of goods and services.
While Joe Biden has announced a ban on imports of key sectors of the Russian economy, “mainly seafood, vodka and diamonds,” Washington has also spoken out against luxury goods.
And European leaders who hosted the summit in Versailles yesterday warned that the expansion of sanctions could continue.
“If (Russian President Vladimir Putin) intensifies the bombing, the siege of Kiev, and the escalation of the war, we know we will have to resort to other massive sanctions,” French President Emmanuel Macron told reporters. – Day session.
Macron does not rule out the possibility of the EU reversing sanctions on gas or oil imports, which have so far been hit hard by Europeans’ heavy reliance on Russian hydrocarbons.
Joe Biden warned yesterday that Russia would pay a “high price” if it sought chemical weapons in Ukraine, but vowed to “avoid” a direct confrontation between NATO and Moscow because it would “provoke World War III”.
The withdrawal of European companies from Russia also continues. Germany’s largest bank, Deutsche Bank, left the country yesterday, following the example of other international financial institutions.
Russia, meanwhile, has said it will reduce access to Instagram, which has been accused of spreading calls for violence against Russians in the wake of the conflict in Ukraine, while its parent company Instagram and Facebook have relaxed rules on reports of violence targeting the Russian military and Russia. Leaders.