EU-Russia

EU bans trade with Crimea as Putin blames West for Russia’s woes

Published on 19 December 2014 at 10:04

European and Russian leaders were both defiant in the face of economic tensions on 18 December, with EU leaders announcing new sanctions on Crimea and Russian President Vladimir Putin warning his country of two years of recession.
During an annual press conference that “usually serves as an arena for the president’s populist showmanship”, writes the Financial Times, Putin “faced more hard-hitting questioning from the usually loyal crowd, particularly on the economy”. But the financial daily emphasises Putin placed responsibility for the country’s woes elsewhere —

He claimed that a period of economic hardship was the price Russia would have to pay to maintain its independence in the face of western aggression, repeatedly blaming the rouble’s plunge and a looming recession on “external factors”.
At a Council of the European Union summit in Brussels, German Chancellor Angela Merkel vowed to maintain sanctions until Putin “makes major concessions” in Ukraine, writes EUobserver. The EU’s leaders also agreed to “ban almost all forms of business co-operation with Crimea” as of 20 December. According to the site, —
Given Russia’s financial crisis and that it has to supply Crimea by sea, it's likely to make the region, which used to live on Ukrainian subsidies, into an economic headache.

Was this article useful? If so we are delighted!

It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans.

Discover our subscription offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic