EU Commissioner Mairead McGuinness insists sanctions on Russia are working

EU Commissioner Mairead McGuinness has insisted sanctions on Russia are working well.

The Irish MEP, peaking today, dismissed criticism that EU measures were ineffective and having little impact as Russian propaganda.

Hungarian Prime Minister Viktor Orban last month criticized EU sanctions, saying they had backfired. Some politicians from right-wing parties in France and Italy made similar statements.

However, EU Financial Stability Commissioner McGuinness dismissed such views, saying they were influenced by well-prepared Russian propaganda.

“No country can survive economically or developmentally if it’s cut off from the global financial system, if its foreign exchange reserves are frozen, if it can’t get the technology, if it can’t import everything it needs for its own manufacturing industry and for its war machine.” , she said.

Russia “is losing brain power by the thousands,” she said at a briefing.

“So the implications are severe, but we recognize that Russia is very good at propaganda, clearly, not just internally but externally as well.”

The EU is working on its eighth package of sanctions against Russia resulting from the invasion of Ukraine.

Recent measures include steps to enforce a price cap on Russian crude oil sold around the world.

The EU is already aiming for a tentative agreement on Monday on a new sanctions package aimed at punishing Russia for escalating its war and illegally annexing four occupied territories in Ukraine.

“I am confident that we can reach a unanimous agreement on the sanctions package in a few hours,” Polish Ambassador to the EU Andrzej Sados told reporters. “We are on the verge of this and are determined to strike a deal as soon as possible.”

Member states are keen to reach an agreement before EU leaders meet in Prague on October 7, said people familiar with the matter, who asked not to be identified as the talks are private. EU Commissioner Mairead McGuinness insists sanctions on Russia are working

Fry Electronics Team

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