Commissioner Says EU Ready To Endure Negative Effect From Sanctions On Russia - Reports

Commissioner Says EU Ready to Endure Negative Effect From Sanctions on Russia - Reports

The European Union is preparing a package of sanctions in the event of Russian aggression against Ukraine and is ready to tolerate their possible negative effect on Europe, prioritizing peace, European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis has told Italian media

ROME (UrduPoint News / Sputnik - 28th January, 2022) The European Union is preparing a package of sanctions in the event of Russian aggression against Ukraine and is ready to tolerate their possible negative effect on Europe, prioritizing peace, European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis has told Italian media.

As cited by Il Sole 24 Ore business daily, Dombrovskis said that the package under discussion includes sanctions against Russia's energy sector. He said that the EU is considering various scenarios and possible alternative suppliers of energy.

The precarious situation around Ukraine has worsened over the past several months after Russia was accused of building up troops near the Ukrainian border and allegedly preparing for an invasion. Moscow has denied the accusations, pointing to NATO's military activity near Russian borders, which it deems a threat to its national security. Russia has also said it has the right to move forces within its own territory.