Germany supports economic sanctions on Russia: Merkel
German Chancellor Angela Merkel on Saturday supported the economic sanctions against Russia and said that restrictive measures against Moscow should be coordinated with Ukraine.
“We support sanctions against Russia. They should be coordinated (with Ukraine),” TASS quoted Merkel as saying at the annual Munich Security Conference.
The sanctions were imposed by the European Union and the United States in 2014 after Russia annexed Crimea, a pro-Russia part of Ukraine. Since then, they have been extended every six months in unchanged form.
“As before, we are committed to the Russia-NATO Founding Act. It is important from the geo-strategic viewpoint. Europe cannot be interested in breaking the relationship with Russia,” she added.
There are three types of economic sanctions of Russia. The first restricts access to Western financial markets and services for designated Russian state-owned enterprises in the banking, energy, and defense sectors.
The second place an embargo on exports to Russia of designated high-technology oil exploration and production equipment. The third is an embargo on exports to Russia of designated military and dual-use goods. (ANI)