 Meanwhile, top European Union leaders say President Vladimir Putin must and will fail, and even as they agreed to new sanctions over his invasion of Ukraine, saying he was trying to bring the continent back to the age of empires and confrontations. The bloc's leaders agreed in principle at an emergency overnight summit to impose new economic sanctions joining the United States and others in taking steps such as curbing Russia's access to technologies. EU Commission Chief Ursula von der Leyen told a news conference that the sanctions would cut Russia's access to the most important capital markets, hence increasing the former Soviet Republic's borrowing costs and raising inflation there. The European Union stands united. Tonight European leaders were fully aligned in condemning the atrocious and unprovoked attacks. Now we have to meet the moment. We will hold the Kremlin accountable. The package of massive and targeted sanctions, European leaders approve tonight, clearly demonstrates that. It will have maximum impact on the Russian economy and the political elite. First, this package includes financial sanctions that cut Russia's access to the most important capital markets. We're now targeting 70% of the Russian banking market, but also key state-owned companies including the field of defense. And these sanctions will increase Russia's borrowing costs, raise inflation and gradually erode Russia's industrial base. Hello, hope you enjoyed the news. Please do subscribe to our YouTube channel and don't forget to hit the notification button so you get notified about fresh news updates.