Home > News > World
Wednesday July 30, 2014 MYT 6:37:47 PM
Wednesday July 30, 2014 MYT 6:39:59 PM
BERLIN (Reuters) - Fresh sanctions on Russia may hurt the German economy, but peace is more important, German Economy Minister and Vice Chancellor Sigmar Gabriel said on Wednesday.
"We know that we may suffer economic consequences, we know that trade with Russia is not inordinately large but it has some significance," said Gabriel, adding he thought the sanctions would have an effect on Russia very quickly.
"Nonetheless at a time of war and peace, economic policy is not the main consideration," Gabriel told journalists after a meeting of the German cabinet.
The European Union and the United States on Tuesday announced further sanctions against Russia, targeting its energy, banking and defence sectors in the strongest international action yet over Moscow's support for rebels in eastern Ukraine.
(Reporting by Annika Breidthardt and Madeline Chambers)
Latvia sees security threat in Russian deal with Abkhazia
Zimbabwe vice president on the brink of losing party position
Sarkozy hopes to crush party rivals in French come-back test
Baghdad red tape puts Iraq Internet under Kurdish control
China says trade deal with South Korea presents challenge for Taiwan
Egypt opens Rafah crossing to stranded Palestinians bound for Gaza
Spotify turns up volume as losses fall
NATO commander says Russian forces are still in east Ukraine
Pellegrini revives City's Champions League spirits
Copyright © 1995-2014 Star Publications (M) Bhd (Co No 10894-D)