In a recent statement, European Commissioner for the Internal Market, Terry Breton, revealed that the European Union (E.U.) is preparing for the ongoing hostilities in Ukraine to continue for several years. He emphasized that the possibility of imposing further sanctions on Russia has not been exhausted.
As part of the economic sanctions, the EU has implemented various import and export limitations on Russia. These restrictions prohibit the export of certain products from Europe to Russia and the import of specific goods into Europe.
The list of prohibited goods is carefully designed to minimize the impact on EU businesses and individuals while maximizing the adverse effects on the Russian economy. Exceptions are made for goods intended for human consumption and those related to health, pharmaceuticals, food, and agriculture to safeguard the well-being of the Russian population.
According to the European Commission, the EU has sanctioned approximately €43.9 bn in exports to Russia and €91.2 bn in imports since February 2022. This represents 49% of shipments and 58% of imports compared to the previous year.
"We are preparing for a long war. Unfortunately, wars in Europe with intense fighting have lasted for several years. That's why we're preparing for it," stated Mr. Breton during an interview on RMC radio. He acknowledged that restrictive measures alone may not lead to Ukraine's victory and expressed the belief that if Ukraine were to prevail, it would likely be through military means and the reclamation of occupied territories.
Mr. Breton stressed that the European Union and Ukraine's allies are providing the necessary support to ensure Ukraine has what it needs to achieve success in the conflict.
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