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

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

Illustration shows EU and Russian flags through broken glass
Illustration shows EU and Russian flags through broken glass

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.

(Reporting by John Chalmers, writing by Philip Blenkinsop, editing by Kate Abnett)

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