EU Leaders Agree ‘Maximum Impact’ Sanctions on Russia

EU Leaders Agree ‘Maximum Impact’ Sanctions on Russia

EU leaders wrapped up an emergency summit early Friday with agreement to punish Moscow for its invasion of Ukraine by imposing "severe" sanctions targeting its financial, energy and transport sectors.

European Commission chief Ursula von der Leyen told a media conference afterwards they "will have maximum impact on the Russian economy and the political elite".

The summit started late Thursday, the day Russia started blasting military targets and sending tanks and paratroopers into its pro-Western neighbor Ukraine, AFP said.

Ukrainian President Volodymyr Zelensky addressed the gathering by videolink, telling European presidents and prime ministers that "he does not know if he will be able to speak with us another time," Luxembourg's leader Xavier Bettel recounted as he left.

Von der Leyen said the packet of sanctions -- the second adopted this week by the EU -- is "targeting 70 percent of the Russian banking market, but also key state-owned companies including the field of defense".

She did not go into details, but a list drawn up by her commission, seen by AFP, proposed adding two Russian private banks -- Alfa Bank and Bank Otkritie -- to entities sanctioned by the EU.

It also called for Russians to be prohibited from putting deposits over 100,000 euros ($112,000)