Russia will face massive costs if it attacks Ukraine, warns EU chief Ursula von der Leyen
Russia will face "severe consequences" and "massive costs" if there is any military aggression against Ukraine, EU chief Ursula von der Leyen has warned in an interview with Euronews.
The US says Russia has amassed more than 100,000 troops near Ukraine's border and has warned it could invade.
Moscow has denied it wants a war. It says NATO expansion near its borders poses a national security threat and wants a pledge that Ukraine -- formerly part of the Soviet Union -- will never join the transatlantic military alliance.
"We should never give up to work on diplomacy," said von der Leyen. "But we are very clear that -- in case that there's any further military aggression of Russia against Ukraine -- this will have severe consequences and massive costs for Russia."
She said the EU had also prepared a "robust" and "very comprehensive" package of sanctions for Moscow if the worst-case scenario comes to pass.
"So far [the package] is concerning the economic and the financial sector," said von der Leyen, president of the European Commission.
"It would limit the access of Russia to the financial markets of the European Union, and it would limit Russia's access to crucial goods and technology it needs and that cannot be easily supplied and replaced.
"As we know, Russia has a very one-dimensional economy, mostly focussed on exporting fossil-based fuel. We know that it is crucial for Russia to have access to these goods and capital, and therefore it must be in the interest of Russia to de-escalate."
Von der Leyen's comments come after a high-level meeting this week between Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orbán in Moscow. During a joint press conference, Orbán spoke of sanctions as an "unsuccessful
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