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G7 Warn Russia on Further Sanctions

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The United States and European leaders say they’re prepared to intensify sanctions against Russia unless it moves to de-escalate the crisis in Ukraine.

The Group of Seven world leaders say in a statement that Russia hasn’t changed course despite the downing of a Malaysia Airlines jet. They’re calling the downing a watershed and say it should have led Russia to stop the flow of weapons and militants from Russia into Ukraine.

The leaders say they have “grave concern” about Russia’s actions. They say if Russia chooses de-escalation, the sanctions will be removed, but will otherwise be stepped up.

The statement comes the day after the U.S. and the European Union announced new economic sanctions on Russia.
The Group of Seven was re-arranged earlier this year to exclude Russia.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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