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Transcript/Script((PLAYBOOK SLUG: Russia Ukraine Europe Reaction (TV)
HEADLINE: As West Ratchets Up Economic Pain on Moscow, Will Unity Hold?
TEASER: United States, E.U., Britain, Canada, Australia and Japan announce raft of sanctions targeting Russian lawmakers, banks and oligarchs
PUBLISHED AT: 2/23/22, 4:16 pm
BYLINE: Henry Ridgwell
CONTRIBUTOR:
DATELINE: Berlin
VIDEOGRAPHER: Henry Ridgwell
VIDEO EDITOR:
SCRIPT EDITORS: Page, MAS, djones approved.
VIDEO SOURCE (S): VOA, APTN, Reuters, AFP
PLATFORMS (mark with X): WEB _X_ TV _X_ RADIO __
TRT: 3:22
VID APPROVED BY: Holly Franko
TYPE: VPKGN
EDITOR NOTES: ))
((INTRO))
[[Europe is facing calls to impose immediate tougher sanctions on Russia, following President Vladimir Putin’s recognition of the separatist-held regions of Ukraine and his pledge to send in troops. Henry Ridgwell looks at whether unity will hold as the West tries to ratchet up the economic pain on Moscow.]]
((NARRATOR))
Demonstrations have been held outside Russian embassies in several European capitals – demanding that the Kremlin pull its forces back from Ukraine – and urging a strong response from the West.
((NARRATOR))
The European Union unveiled a range of sanctions against Russia Tuesday – backed by all 27 member states.
((NARRATOR))
Among those targeted were all 351 Russian lawmakers in the state parliament who voted to recognize the separatist regions of Luhansk and Donetsk, along with 37 other individuals.
((Josep Borrell, European Union's Foreign Policy Chief))
“And last but not least, because this is very important, we target the ability of the Russian state and government to access to our capital and financial market on services.”
((NARRATOR))
The European sanctions are similar to those imposed by the United States. Canada, Australia and Japan have also imposed sanctions.
((Sudha David-Wilp, German Marshall Fund of the United States))
“European allies and the United States have been in close coordination, and they seem to be ready to match every move of Putin.”
((NARRATOR))
Britain meanwhile imposed sanctions on five Russian banks, and asset freezes and travel bans on three Russian oligarchs close to President Putin.
((Liz Truss, British Foreign Secretary))
“We have more individuals that we will target in the event of a full-scale invasion of Ukraine.”
((NARRATOR))
Many British lawmakers say the sanctions don’t go far enough. Others argue the West must hold some sanctions in reserve.
((Sudha David-Wilp, German Marshall Fund of the United States))
“It's important that the West not put everything out on the table, an element of surprise is also important. This is probably going to be a long conflict, and it's important for the West to be measured and proportionate.”
((NARRATOR))
But Russia has been preparing for this moment, says analyst Amanda Paul of the European Policy Center in Brussels.
((Amanda Paul, European Policy Center))
“They have a huge wealth fund of over 600 billion in gold and foreign currency. So, they do have the ability to keep going for some time despite the pain.”
((NARRATOR))
Germany announced Tuesday that it would halt the certification process for the Nord Stream 2 pipeline, which would bring Russian gas directly to Germany.
In response, Russia’s Prime Minister Dmitry Medvedev wrote on Twitter: “Welcome to the brave new world where Europeans are very soon going to pay two-thousand euros for one thousand cubic meters of natural gas!”
Germany has other options, says energy analyst Claudia Kemfert.
((Claudia Kemfert, German Institute for Economic Research (in English) ))
“Germany does not need Nord Stream 2. We have enough infrastructure we have enough pipelines where we can transport and import natural gas to Germany.”
((NARRATOR))
Western unity on sanctions may become more strained.
((Nora Müller, Analyst at Körber Foundation (in English) ))
“The more you ratchet up the sanctions regime, the more painful it also is not only for the one who is sanctioned, but also for the one who imposes the sanctions, that’s the logic of sanctions.”
((NARRATOR))
For now, they are ready to ratchet up the economic pain on the Kremlin if Russia moves deeper into Ukraine.
Henry Ridgwell, for VOA News, Berlin.
NewsML Media TopicsConflict, War and Peace
NetworkVOA
Embargo DateFebruary 23, 2022 16:24 EST
Brand / Language ServiceVoice of America - English
