The European Union will launch a total economic war against Russia. This was stated by the Minister of Finance of France Bruno Le Maire in an interview with France Info radio.

“We will launch a total economic and financial war against Russia,” the minister said. “The Russian people will bear the consequences.”

The sanctions imposed by the European Union against Russia will destroy its economy, the minister said.

“The United States and Europe together form the most powerful economic bloc on the planet,” he said. “We will cause the Russian economy to collapse.”

Following the invasion of Ukraine, Western countries announced new organizational measures against Moscow. The EU has decided to ban operations related to the management of reserves and assets of the Russian Central Bank. In addition, EU action targets several major financial institutions, including Sberbank and VTB. It is difficult for some state-owned companies to raise capital from abroad. Germany has stopped the process of certifying the Nord Stream-2 gas pipeline.

The EU has also banned all Russian aircraft from landing, taking off or flying over EU countries and its companies from delivering aircraft or parts used in them to Russia.

Moscow has said it has prepared a plan of action in advance in the event of a new wave of sanctions decisions. Authorities stressed that they would provide the necessary support to businesses affected by the constraints to ensure the smooth running of the economy.

/BGNES

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