Russia will pay a price, says EU's envoy to India Ugo Astuto

European Union's envoy to India Ugo Astuto said, “Sanctions announced by the bloc will have a very severe impact. It will take a toll on the Russian economy."

Image tweeted by Ugo Astuto

European Union's envoy to India Ugo Astuto has said that Russia will ‘pay a price’ over the country's invasion of Ukraine. Speaking to Zee Media, envoy Ugo said, “Sanctions announced by the bloc will have a very severe impact. It will take a toll on the Russian economy." Several European capitals are worried over the Russian invasion of neighbouring Ukraine even as several punitive economic measures have been announced against Moscow. 

On the EU's Indo Pacific strategy, the envoy explained,"Our vision for the Indo pacific is free and open space" which "we see now in jeopardy in Europe". Earlier this week, mega Paris Indo Pacific meet took place in France, in which foreign ministers of 30 countries participated.

Here is an excerpt from the interview-

Sidhant Sibal: How major has this development been for Europe? How would you characterise it in terms of its fallout? 

Ugo Astuto: The situation is very serious. It's not serious for Europe only, but also for the whole international community. Because what we are seeing is aggression, unprovoked, unjustified, a clear violation of UN Charter, international law, of the very tenants that made us possible to live in peace and prosperity for decades. These are matters of concern for the whole of the international community and it needs to be addressed. This aggression cannot go without consequences. 

Sidhant Sibal: Sanctions have been announced. Do you think sanctions will have any impact on Moscow? This time what is different when it comes to the voice coming from the European Union?

Ugo Astuto: I definitely believe that the sanctions will have a very severe impact. It will take a toll on the Russian economy. Just yesterday, the European council came together and elaborated a new package of sanctions, these are broader than the previous ones following the aggression and sanctions include economic, financial aspects. For instance, we will forbid access to relevant technology which is required for the modernization of the Russian economy. We are going to block access to European financial markets, Russian banks will no longer be able to enter and operate into European financial markets. There will be new listings added to the previous one to go and touch directly those responsible for aggression. There is going to be a significant package. Let me underscore that this is something we have prepared together with our friends and allies, US, UK, Canada and also with friends and partners with other regions, for instance Japan, Australia. It is important we all work together in this direction and we make those responsible for the aggression accountable.

Sidhant Sibal: So the EU will speak in one voice..we have seen some divergences..

Ugo Astuto: No divergence, full unity as reflected in the package that is being discussed that is reflective in the declaration which was published on Thursday night, a declaration by 27 member states, so no divergence, full unity within EU and and beyond. As I was telling you about this package of sanctions, decisions are taken with very close coordination with our partners and allies, US, UK, Canada and others. 

Sidhant Sibal: But will it deter Russian Putin and it looks like there is no stopping the President.

Ugo Astuto: This is a very severe military aggression, totally unprovoked, totally unjustified. So what we are trying to do is to make Russia accountable, to make Russia pay the consequences in economic terms, political isolation and we also hope that the United Nations, the international community will do the same. 

Sidhant Sibal: You talked about isolation for the Russian President, what kind of isolation do you foresee?

Ugo Astuto: Let me simply refer to what the United Nations Secretary General said, this aggression is a clear breach of the United Nations charter. It is severe and Russia has been violating UN Charter, international law. Very agreement signed by Russia, the Minsk pact, and agreements underpinning European security for decades..It is very serious and I think Russia will pay a price for it.

Sidhant Sibal: And do you see any kind of talks in future with Russian leaders, by EU leadership? 

Ugo Astuto: We are always ready to talk. You have seen the visits of the French President, German chancellor. The aggression has to stop immediately and unconditionally and the Russians have to withdraw. We are ready to talk, once Russia stops its aggression and withdraws its troops but conditions must be such that we can talk with a purpose 

Sidhant Sibal: Now when it comes to the Indo Pacific, what is the vision like for the  EU?

Ugo Astuto: Our vision for the Indo pacific is free and open space which is rules based where respect for international law is paramount. These were the messages conveyed in Paris where we had a very large gathering and very good attendance including EAM Jaishankar. I think the basic feature that brings us together is our faith in open societies, democracies, and respect for international law. Based on this principle we can work together on a number of issues in the Indo pacific, various facets, economic development, connectivity, green and digital transition, all this possible but it is also rooted in respect for international law which is what we see now in jeopardy in Europe.

Sidhant Sibal: Any high level engagement by the EU on the Indo Pacific this year?

Ugo Astuto: Yes, engagement is for sure growing, if you look at the meeting itself there were a number of deliverables, south asia, south east asia and centrality of ASEAN we all agree on. There will be further additional deliverables.