16 Jul 2014
Fresh sanctions against Russia to be discussed at EU summit
FXStreet (Łódź) - EU leaders, who gathered today in Brussels, will discuss the possibility of imposing new sanctions on Russia, which is accused of supporting separatist militants in eastern Ukraine.
Actions, to be debated at the EU summit which kicks off today, include curbing EIB and EBRD lending for new Russian projects, halting commerce with Crimea, halt bilateral cooperation programs with Russia and targeting Russian companies which help foment unrest in Ukraine.
Ryan Littlestone from Forex Live however doesn't believe any meaningful steps will be taken: "One of the biggest EU/Russian projects is the South stream gas pipeline and if I was a betting man I’d put half my house on betting that the EU don’t touch it as far as sanctions go."
"They did stop the project in Bulgaria over Bulgaria’s awarding of tenders for the work but Russia is already making contingency plans by talking to Turkey over sending it via them."
Actions, to be debated at the EU summit which kicks off today, include curbing EIB and EBRD lending for new Russian projects, halting commerce with Crimea, halt bilateral cooperation programs with Russia and targeting Russian companies which help foment unrest in Ukraine.
Ryan Littlestone from Forex Live however doesn't believe any meaningful steps will be taken: "One of the biggest EU/Russian projects is the South stream gas pipeline and if I was a betting man I’d put half my house on betting that the EU don’t touch it as far as sanctions go."
"They did stop the project in Bulgaria over Bulgaria’s awarding of tenders for the work but Russia is already making contingency plans by talking to Turkey over sending it via them."