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 Vice President of the European Parliament Proposes to Restrict the Convertibility of the Russian Ruble

Besides limiting the ruble's convertibility, Vice President Czarnecki also proposed reducing Europe's dependence on Russian oil and gas supplies.

The vice president of the European parliament has proposed restricting the convertibility of the Russian ruble as part of a package of measures to prevent Moscow making any further "aggressive" moves in Ukraine, Censor.NET reports, citing The Moscow Times.

Read also: Sanctions Must Prompt a Rethink on Russian Investments - The Financial Times

Ryszard Czarnecki, speaking at Poland's Sejm parliament, argued that Western sanctions against Russia have so far been a "reactive" response to Moscow's actions but that preventive measures would be more effective, according to a statement posted Wednesday on his website.

"Europeans must be wise before damage is done, not after the fact, and that's why we are proposing preventive sanctions instead of only those that present a response to Russia's actions," Czarnecki was quoted as saying by Polish daily Wyborcza Gazeta. "President Vladimir Putin must know what he has to fear, what awaits him."

Read also: Parliament Adopted the Law on Sanctions for Supporting Terrorism

 
 
 
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