The European Union is prepared to take further action against Russia if tensions with Ukraine escalate, leaders from three EU countries told CNBC following Thursday’s EU summit in Brussels.
Fredrik Reinfeldt, the Prime Minister of Sweden, told CNBC, said while Russia has played down the impact of the sanctions, the country’s economy was likely to be impacted.
“I don’t think we should listen so much to the way [Russian President Vladimir] Putin is trying to behave when it comes to this,” said Reinfeldt.
“[It’s] very foreseeable that they say that they don’t care about anything, but we have in history seen that these targeted measures are probably better working sanctions than many other things that you could do,” he added.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.