EU’s von der Leyen: We need more sanctions on Russia

• Europe stands in full solidarity with Poland after violation of airspace
• In sanction talks, we are looking at phasing out Russian fossil fuels faster
• Also looking at sanctions on the third party countries
• Need to work on a new solution to finance Ukraine using frozen Russian assets
• Will launch an ‘Eastern flank watch’ programme to improve surveillance of countries bordering Russia
• We will build a drone wall

Again, there’s a lot of talk but in the end it is actions that speak louder than words. So, we’ll see. Anyway, all this support is going to pile on the cost on European economies. And the timing is not pretty with defense budgets and energy bills soaring while inflation has not quite retreated fully. There will be more concerns about deficits again, not least with yields shooting up as of late.

This article was written by Justin Low at investinglive.com.