Intervention in plenary session in the debate on the effectiveness of EU sanctions against Russia
Let’s state the obvious. No economic sanction against any regime has ever brought an economy to its knees. This is as true today for Russia as it was for South Africa, but international sanctions are nonetheless a most formidable weapon, because they cause industries to run out of steam, multiply financial difficulties and force their targets into a permanent search for uncertain and very costly byways.
This is the case with Mr Putin’s Russia, which is why it is absurd to talk about the ineffectiveness of the economic blows delivered to the country.
Putinism is hurt. Putinism is suffering, but there are obviously loopholes in our system and new, better-targeted measures are to be taken that will hurt the aggressor even more. We need to take stock of what has worked very well, not so well or not at all.
This is what our Parliament will be doing next month, calling on the Council and the Commission to do even better, even more and even faster, because the end of this war depends on it.