Sanctions choke off business with Russia

Western sanctions are causing the Russian economy to falter. Many European companies are reconsidering their investments in the country; the punitive measures against banks and export bans are making business enormously difficult.

Valdis Dombrovskis was clear: „If Russia does not end its aggression, it will become a pariah state,“ the EU Commission Vice President responsible for trade said yesterday. He said the EU and its partners are prepared to impose even tougher sanctions if necessary – even if that means less growth and higher inflation in the EU as well. „This is the price to pay to defend democracy and peace,“ the Latvian told the European Parliament’s trade committee.

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