French Finance Minister Bruno le Maire declared on Tuesday that France will “wage an all-out economic and financial war on Russia” and will “cause the collapse of the Russian economy” in reaction to the Russian invasion of Ukraine. He cautioned the sanctions imposed on Moscow will hurt citizens as well as the direct targets, including government officials and oligarchs, but insisted the measures will stay in place until Russian President Vladimir Putin abandons his ambitions in Ukraine.
Le Maire told France Info that a new round of sanctions is under consideration in the European Union and the G7. He likewise called on French companies to stop their operations in Russia, adding that he will hold talks with Total and Engie, following announcements from BP and Shell about cutting ties with Russian businesses.