"It is tragic, horrible, but unfortunately the war may not be over yet. We have to keep up the pressure until the war is over," Anthony Blinken said, reiterating that any impunity for Putin would open a Pandora's box for a repeat of similar catastrophic situations. "The stakes are very high," he stressed."
In this context, he stressed that Western allies are committed to new sanctions until Russian forces leave Ukrainian territory and Ukraine regains its national sovereignty.
The US Secretary of State also noted that Russia's invasion of Ukraine endangers fundamental principles established after two world wars that are important for maintaining peace and security.
Welcoming the European stance, Mr. Blinken commented that "we are being tested in a moment of crisis and we are responding with sanctions. We stand together. The EU acted quickly. The EU is united."
In the same vein, Ursula von der Leyen warned that "the war is far from over." In this context, she underlined, the partners are determined to impose further tough measures if "Putin does not stop."
"Thanks to this coordination (between the EU and the US), we have designed and developed together in record time a set of sanctions that show our determination to make Putin pay the price," she stressed.
The President added that "with these measures, the Central Bank cannot use a significant share of its reserves to defend the ruble, which is now in free fall. The Central Bank has had to raise interest rates to 20%, fuelling inflation. Major commercial banks are cut off from global markets and SWIFT, limiting their ability to finance the economy. The stock market has been closed since the beginning of the week. One by one, Western companies are announcing their own measures."
"EU-US cooperation is at the core of this effective response," he said. He also referred to the outcome of the vote in the UN General Assembly. "141 countries, the overwhelming majority of UN members, supported the resolution condemning Russia for its brutal invasion. Only 4 countries out of 193 stood by Russia: Belarus, North Korea, Syria and Eritrea."
"President Putin is increasingly isolated in the global community," stressed Ursula von der Leyen. She added that "in the face of the world's protests, Putin's army continues. Bombings and missile attacks on civilian targets are intensifying."
The European Union and the United States will continue to stand by Ukraine and its courageous people and leadership." Finally, he referred both to the activation of the Temporary Protection of Refugees Directive and to the provision of humanitarian aid.
"We are providing €500 million in humanitarian aid. We are working quickly to set up humanitarian aid hubs in Poland, Romania and Slovakia," the Commission President said.
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