EU sanctions on Russia starting to have an effect – EU official

© Reuters. EU and Russian flags are seen through broken glass in this illustration taken March 1, 2022. REUTERS/Dado Ruvic/Illustration

BRUSSELS (Reuters) – The European Union’s sanctions against Russia over its invasion of Ukraine are starting to have an initial impact, an EU official said on Thursday.

“We believe that the package of sanctions we’ve put on the table is quite impressive and is now starting to have the first effects,” the official said.

“Take the economic side, we have the Moscow stock exchange being closed since Monday. The depreciation of the rouble is also quite impressive. The fact that the Russian Central Bank had to double his interest rate to 20% also,” the official continued.

EU sanctions on Russia starting to have an effect – EU official

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