Economic sanctions

Western sanctions 'severely' harming Russia: Putin

President Vladimir Putin acknowledged on Jan. 11 in an interview with German daily Bild that Western economic sanctions over the Ukraine crisis are affecting Russia.

"Concerning our possibilities on the international financial markets, the sanctions are severely harming Russia," he said in a long interview, calling the EU sanctions "a theatre of the absurd".

Turkey to claim rights against Russian sanctions through WTO: Minister

Ankara could take measures to counter Russian sanctions against Turkey on a global level Turkish Economy Minister Mustafa Elita? has signaled after the sanctions came into effect with the new year. 

"We'll use our rights in line with World Trade Organization (WTO) rules," Mustafa Elita? said in a meeting to release 2015 export figures on Jan. 4. 

EU prolongs Russia sanctions over Ukraine, Russia to introduce food embargo on Ukraine

The European Union agreed Dec. 21 to prolong damaging economic sanctions against Russia for its involvement in the Ukraine crisis for another six months amid sharp differences over relations with Moscow, while Russia will introduce a food embargo against Ukraine next month over Kiev's trade deal with the EU.

German firms hurt by Russian sanctions against Turkey

German companies doing business in Russia have suffered collateral damage from Moscow's sanctions against Turkey, a business group said on Dec. 18.

The impact of sanctions on those companies has been "considerable," said the president of the German-Russian chamber of commerce, Rainer Seele.

"Two-thirds of them have been hit," he said.

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