World leaders express a raw outrage shrouded by an impotence to immediately come to the aid of Ukraine to avoid a major war in Europe.
has moved to beef up its eastern flank facing Russia and planned a virtual leaders' summit for Friday after President Vladimir Putin warned anyone listening that any interference would “lead to consequences you have never seen in history.”
She said the sanctions, if approved, “will weaken Russia’s economic base and its capacity to modernize. And in addition, we will freeze Russian assets in the European Union and stop the access of Russian banks to European financial markets.”Like the first package of sanctions that were imposed when Russia recognized the two breakaway eastern Ukrainian republics, von der Leyen said all Western powers were walking in lockstep.
And it put its friendship in practice Thursday by approving imports of wheat from Russia, a move that could help to reduce the impact of possible increased Western sanctions. Russia is one of the biggest wheat producers but would be vulnerable if foreign markets block shipments. One thing was clear — weeks of diplomatic cajoling, global crisscrossing of leaders and foreign ministers, and the threat of sanctions against Putin's inner circle had failed to persuade the Kremlin to take one of the most significant measures in Europe since the end of the Cold War.
Russia’s attack and uncertainty about the intensity of the Western response sent stocks tumbling and oil prices surging by more than $5 per barrel. Market benchmarks in Europe and Asia fell by as much as 4%, while Brent crude oil briefly jumped above $100 per barrel in London for the first time since 2014 on unease about possible disruption of supplies from Russia, the No. 3 producer.
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