Home > News > World
Wednesday July 30, 2014 MYT 6:15:02 PM
Wednesday July 30, 2014 MYT 6:16:09 PM
PRAGUE (Reuters) - A protracted trade war between the European Union and Russia would lead to a new "Iron Curtain", the Czech government said on Wednesday, but this week's new EU and U.S. sanctions would not have a major impact on the Czech economy.
The EU sanctions, which will be reviewed in three months, are part of the strongest international action yet over Russia's support for rebels in eastern Ukraine - support that Moscow denies it is giving.
The Czechs, who supported the action, have been against sweeping sanctions, worried about trade relations with Russia, still an important partner for many central European countries.
Czech exports to Russia last year totalled 116.2 billion crowns (£3.3 billion) - or 3.7 percent of the overall figure - with imports accounting for 5.5 percent of the country's total, but only a tiny fraction of the mutual trade involves military material.
"It is good (for the Czech Republic) that the sanctions do not have a blanket economic character and aim at a limited number of areas," Prime Minister Bohuslav Sobotka said in a statement, noting that he did not believe further sanctions would be necessary.
"Neither for the European Union, nor for Russia, is it favourable to get into a drawn-out trade war and that some new economic and political Iron Curtain appears on Ukraine's eastern border," the statement quoted him as saying.
(Reporting by Jason Hovet; Editing by Louise Ireland)
Czechs oppose broad Russia sanctions, see new Iron Curtain
Czech PM says Czechs, Slovaks sceptical about Russia sanctions
Russia may ban import of cars if West applies new sanctions - paper
EU delays enforcing new Russia sanctions
Exclusive - Bulgarian nationalists may topple government over Russia sanctions
Ministers from coalition against Islamic State to meet December 3
Number of Ebola cases nears 16,000 as Sierra Leone loses ground - WHO
Catalonia moves closer to early election as dialogue hopes fade
Bulgaria charges radical imam, six others with supporting Islamic State
Same firm, new house: Mexico leader's conflict-of-interest storm grows
Argentine presidential aspirant Massa says would cut back state controls
Gamblers turn to illegal bookies since gambling dens have been shut, says SAC
Welcome to Bhutan via Google Street View
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)