PARIS, March 1. /TASS/. The EU sanctions against Russia will undermine its economy, French Minister of the Economy, Finance and Recovery Bruno Le Maire told the France Info radio station.

"The US and Europe form the most powerful economic bloc in the world," the French finance minister noted. "We will trigger the collapse of the Russian economy."

According to Le Maire, the amount of Russian assets that are going to be frozen hits $1 trln. "The West is ready to further tighten the sanctions if necessary," the finance minister noted.

On February 26, the EU Council decided to restrict the access of the Russian government, the Central Bank, Alfa-Bank, Otkritie FC Bank, Rossiya Bank, Promsvyazbank and other financial institutions to the European capital market from April 12 due to the Russian military special operation in Ukraine.

On February 24, Russian President Vladimir Putin in response to the appeal of the leaders of the republics of Donbass, decided to conduct a special military operation. The Russian leader stressed that Moscow's plans do not include the occupation of Ukrainian territories.