European Union leaders to impose harsh sanctions on Russia over attack on Ukraine

European Union leaders will impose new sanctions on Russia, freezing its assets, halting its banks' access to European financial markets and targeting 'Kremlin interests' over its 'barbaric attack' on Ukraine, senior officials said on Thursday.An emergency summit starting at 1900 GMT will also discuss offering EU candidate status to Ukraine, Lithuania's President Gitanas Nauseda said. European Union Commission President Ursula von der Leyen promised to “weaken Russia's economic base and its capacity to modernize” following the “barbaric attack” by Moscow against Ukraine. “We condemn this barbaric attack and the cynical arguments that are being used to justify it.”

Von der Leyen said she will present “massive and strategic” sanctions against Russia for approval later today. “These sanctions are designed to take a heavy toll on the Kremlin's interests and their ability to finance war. And we know that millions of Russians do not want war,” she said. “We will not allow President [Vladimir] Putin to replace the rule of law, by the rule of force, and ruthlessness,” she said, "Ukraine will prevail." Speaking alongside Von der Leyen, EU High Representative Josep Borrell said punitive measures from the 27-member bloc against Russia would be “the harshest packet of sanctions that has ever been implemented.”