Russia

(asked on 14th October 2014) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign and Commonwealth Affairs, what assessment he has made of the effect on Russia of EU-led sanctions.


Answered by
David Lidington Portrait
David Lidington
This question was answered on 21st October 2014

Sanctions imposed on Russia by the EU in respect of Russia’s actions in Ukraine are designed to impose a cost on Russia, deter further escalation of this crisis, and support the wider diplomatic effort to reach a sustainable solution. EU sanctions already announced have exacerbated negative trends in Russia’s economy: capital flight in the first half of 2014 was greater than for the whole of 2013; and growth predictions have been revised downwards. Russian access to western financial markets is being severely constrained as lenders consider the risks of Russian exposure in the current climate. The strengthening of sanctions is signalling clearly to the Russian leadership that its policy of trying to destabilise Ukraine will continue to have serious consequences.

Reticulating Splines