G20 LEADERS WARN PUTIN OF FURTHER SANCTIONS AGAINST RUSSIA OVER UKRAINE

The G20 leaders have warned President Putin at their meeting in Brisbane (Australia) that they may impose increased sanctions on Russia if the President does not stop supporting secessionist groups in eastern Ukraine.

News reports suggest that leaders talked of new banking, energy and defence sanctions, and that Angela Merkel (the German Chancellor) said that the EU was likely next week to add Russian separatists in Ukraine to the list of individuals subject to EU measure imposing asset freezes and travel bans (which are all on the ‘sanctions in force’ section of this blog).

British Prime Minister David Cameron said at a press conference: “If Russia continues to destabilise Ukraine there will be further sanctions. There is a cost to sanctions, but there would be a far greater cost to allow a frozen conflict on the continent of Europe to be maintained. President Putin can see he is at a crossroads.”  US President Obama said that the US was not actively considering further sanctions on Russia now (“at this point, the sanctions that we have in place are biting plenty good”) but would consider doing so if Russia did not change its policies. If President Putin choses to seek a diplomatic solution the US will be the first country to suggest rolling back the current sanctions “that are frankly having a devastating effect on the Russian economy”.

In an interview on German television, President Putin said of the sanctions imposed by the west: “Do they want to bankrupt our banks? In that case they will bankrupt Ukraine. Have they thought about what they are doing at all or not? Or has politics blinded them? As we know eyes constitute a peripheral part of brain. Was something switched off in their brains?”

This entry was posted in Russia, Ukraine by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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