EU chief: Russia could be cut off from markets, tech goods

By KARL RITTER and GEIR MOULSON
Associated Press

MUNICH (AP) — A top European Union official says Russia would have its access to financial markets and high-tech goods limited under Western sanctions being prepared in case it attacks Ukraine. The comments from Ursula von der Leyen, head of the EU’s Executive Commission, came Saturday as tensions over Russia’s intentions toward Ukraine intensified. U.S. President Joe Biden says he is “convinced” that Russian President Vladimir Putin has decided to invade his neighbor. Von der Leyen says that action from the Kremlin “may cost Russia a prosperous future.” At the Munich Security Conference with other members of Congress, House Speaker Nancy Pelosi said sanctions might include the SWIFT banking system, which could cut Russia off from most international financial transactions.