The EU Joins In On Sanctions

According to the Financial Times, the EU is preparing to freeze the personal assets of both Vladimir Putin and his Foreign Minister Sergei Lavrov.

The EU is preparing to freeze the assets of Vladimir Putin and his foreign minister Sergei Lavrov under the sanctions package being pushed through on Friday, according to three people familiar with the matter.

Foreign ministers are planning to approve the sanctions package this afternoon, along with a number of measures against Russian banks and industry, the people said.

Officially Putin does not have much in the way of assets. Will these sanctions have any bite? Or are they just for show?

Thus far, economic pressures seem rather ineffective against Putin.