The economic restrictions are painful for Moscow and represent a powerful lever, according to the European Commission president

The EU will not lift its sanctions against Russia for as long as the Ukraine conflict continues, European Commission President Ursula von der Leyen has said.

During talks in Saudi Arabia on Monday, Russia and the US agreed to move towards reviving the Black Sea Grain Initiative, which, according to the Kremlin, should include the removal of Western restrictions against Russian Agricultural Bank and other financial institutions involved in the international sale of food and fertilizers.

In her interview with French broadcaster LCI on Friday, von der Leyen made it clear that Brussels will not support the idea of a maritime truce between Moscow and Kiev put forward by the administration of US President Donald Trump.

"The sanctions are very significant; they are painful; they have an impact on the Russian economy, and they represent a powerful lever," she said when asked about the possibility of the EU fulfilling Russian demands to lift some of the curbs.

According to the head of the European Commission, the restrictions "will remain in effect until a just and lasting peace is established in Ukraine."

However, she noted that "when the war is over, the sanctions might be removed."

Von der Leyen also said that for the conflict to end, "security guarantees for Ukraine" are needed as well as "a solid defense industrial base and a deterrent force" in the EU.

The Black Sea Grain Initiative, originally brokered in July 2022 by the UN and Türkiye, envisioned the safe passage of Ukrainian agricultural products in exchange for the West lifting its restrictions on Russian grain and fertilizer exports.

Moscow withdrew from the deal a year later, citing the West's failure to uphold its obligations. The Americans and Russians now see its revival as a step towards settling the Ukraine conflict altogether.

Earlier this week, President Vladimir Putin asserted that the Russian economy has become the fourth largest in the world in purchasing power parity terms after those of China, the US and India, despite a record 28,595 sanctions being placed on it by Washington, Brussels and their allies. According to the Russian government's data, the country's economy grew 4.1% in 2024, surpassing the official forecast of 3.9%.

READ MORE: Trump assesses Ukraine conflict settlement

Putin previously urged the Russian business circles against expecting the sanctions to be fully lifted, describing them as a mechanism of strategic systemic pressure on the country that the West intends to keep using.

(RT.com)