Ad
“We have frozen the Russian central bank’s foreign assets and the and the rouble has collapsed,” EU vice-president Valdis Dombrovskis said. (Photo: ec.europa.eu)

Strategy to cripple Russian finances going to plan, says EU

The European Commission on Wednesday formally laid out its strategy to cripple the Kremlin's ability to finance its war in Ukraine — and said it was working to plan.

"The rouble has collapsed," EU trade commissioner Valdis Dombrovskis told a news conference. "And we can go even further," he said.

A key component of the strategy, carried out in coordination with the US and UK, is a freeze on the Russian central bank's foreign assets.

The idea is to hamper its ability to prop ...

Get EU news that matters

Back our independent journalism by becoming a supporting member

Already a member? Login here

Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

“We have frozen the Russian central bank’s foreign assets and the and the rouble has collapsed,” EU vice-president Valdis Dombrovskis said. (Photo: ec.europa.eu)

Tags

Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

Ad

Related articles

Ad
Ad