Support The Moscow Times!

EU Official Wants Tougher Sanctions Against Russia's Ruble

Ryszard Czarnecki Ryszard Czarnecki / Twitter

A vice president of the European parliament has proposed restricting the convertibility of the Russian ruble as part of a package of measures to prevent Moscow making any further "aggressive" moves in Ukraine.

Ryszard Czarnecki, speaking at Poland's Sejm parliament, argued that Western sanctions against Russia have so far been a "reactive" response to Moscow's actions but that preventive measures would be more effective, according to a statement posted Wednesday on his website.

"To counter Russia's aggressive military actions, pre-emptive sanctions should be considered," Czarnecki said.

Following Russia's annexation of Crimea from Ukraine in March, the U.S. and EU have sanctioned dozens of Russian individuals and entities, many of whom have close ties to the presidency. The West has also accused Moscow of backing pro-Russian separatists in eastern Ukraine — a charge repeatedly denied by the Kremlin.

"Europeans must be wise before damage is done, not after the fact, and that's why we are proposing preventive sanctions instead of only those that present a response to Russia's actions," Czarnecki was quoted as saying by Polish daily Wyborcza Gazeta. "President Vladimir Putin must know what he has to fear, what awaits him."

Besides limiting the ruble's convertibility, Czarnecki also proposed reducing Europe's dependence on Russian oil and gas supplies.

See also:

Ruble Moves Closer to Free Float as Central Bank Steps Back

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more