Europe unveils new sanctions as Russia reels from inflation
The European Union is working on the 17th package of sanctions aimed at weakening Russia. Finland's Foreign Minister Elina Valtonen emphasizes that the sanctions are effective, and Russia is grappling with inflation.
What do you need to know?
- The European Union is working on the 17th package of sanctions designed to further weaken the Russian economy.
- Russia is struggling with high inflation, a consequence of the imposed sanctions, as highlighted by Finland's Foreign Minister Elina Valtonen.
- Sunday's attack on Sumy in Ukraine, which resulted in 34 deaths, was condemned by leaders of many countries, including the USA.
During a meeting of EU foreign ministers in Luxembourg, Elina Valtonen stressed that the European Union is intensifying its actions against Russia. The new 17th package of sanctions targets further weakening the Russian economy, which is already dealing with high inflation.
The EU is developing the 17th package of sanctions
Finland's foreign minister emphasized that the EU needs a drop in oil prices right now because Russia is dependent on oil and gas exports. She highlighted that lower prices will impair its ability to conduct war and invest in the military industry.
Valtonen highlighted that the sanctions imposed on Russia over the past three years are having an effect. Inflation in Russia is rising, impacting the quality of life for its citizens. The Finnish politician expressed hope that Russians will take steps toward transforming their country into a true democracy. She also referred to the Sunday attack on Sumy.
Valtonen assessed that Russian forces deliberately targeted civilian infrastructure and noted that the attack occurred shortly after the visit of the US President's envoy Steve Witkoff to St. Petersburg, where he spoke with Vladimir Putin.
The minister emphasized that this shows that Russia completely disregards the peace process and has no respect for human life.
The Sunday missile attack on the Ukrainian city of Sumy sparked a wave of condemnation from leaders of many countries, including the European Union, France, the United Kingdom, Germany, and Italy. US President Donald Trump stated that the Russians made a mistake. This attack, as noted by Valtonen, demonstrates Russia's lack of respect for the peace process and human life.
