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EU Official Calls for Tougher Sanctions Against Russian Ruble

Published: August 22, 2014 (Issue # 1825)



  • Ryszard Czarnecki, speaking at Poland's Sejm parliament, argued that Western sanctions against Russia have so far been a "reactive" response to Moscow's actions
    Photo: Ryszard Czarnecki / Twitter

A vice president of the European parliament has proposed restricting the convertibility of the Russian ruble as part of a package of measures to prevent Moscow making any further "aggressive" moves in Ukraine.

Ryszard Czarnecki, speaking at Poland's Sejm parliament, argued that Western sanctions against Russia have so far been a "reactive" response to Moscow's actions but that preventive measures would be more effective, according to a statement posted Wednesday on his website.

"To counter Russia's aggressive military actions, pre-emptive sanctions should be considered," Czarnecki said.

Following Russia's annexation of Crimea from Ukraine in March, the U.S. and EU have sanctioned dozens of Russian individuals and entities, many of whom have close ties to the presidency. The West has also accused Moscow of backing pro-Russian separatists in eastern Ukraine — a charge repeatedly denied by the Kremlin.

"Europeans must be wise before damage is done, not after the fact, and that's why we are proposing preventive sanctions instead of only those that present a response to Russia's actions," Czarnecki was quoted as saying by Polish daily Wyborcza Gazeta. "President Vladimir Putin must know what he has to fear, what awaits him."

Besides limiting the ruble's convertibility, Czarnecki also proposed reducing Europe's dependence on Russian oil and gas supplies.





 


ALL ABOUT TOWN

Sunday, Nov. 23


Get in the holiday spirit at today’s Winter Bazzar at the Astoria Hotel. Featuring gifts from around the world such as French eclairs, Dutch cheeses and Indian jewelry, the annual event organized by the International Women’s Club will feature 18 international stands and raise money for charity through the sales of a diversity of products that further illustrate the city’s international connections.



Monday, Nov. 24


Dr. Axel Schulte, Department Head at Fraunhofer Institute for Material Flow and Logistics in Dortmund, Germany, is the featured speaker at the SPIBA Industrial Committee lecture on “The Fourth Industrial Revolution: Digitalization of the Supply Chain.” The event begins at 4 p.m. at the Graduate School of Management at 3 Volkohvsky Pereulok and registration is required by Nov. 21 either by emailing office@spiba.ru or calling 325 9091.



Tuesday, Nov. 25


Tag along with AmCham during their “Industrial St. Petersburg” Tour program today. This incarnation of the ongoing series will visit Philip Morris Izhora and include an Environmental Health and Safety Committee meeting.


Find out how to expand your business east during the “Business With China” forum beginning today and concluding tomorrow at the Lenexpo convention center. The largest Russian forum dedicated to business with the Asian giant, topics that will be discussed include logistics, customs clearance, trade financing and many more.



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