Serbia has no intention of joining the sanctions against Russia and we hope that they will be lifted as soon as possible, Ivica Dacic said on Monday.
Speaking in the Serbian National Assembly, where he presented a bill on international restriction measures, the foreign minister said that sanctions are not a way to solve political problems.
Ever since economic sanctions against Iran were officially lifted in mid-January, you could see this mood of overriding joy among the business community.
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".
Hungarian Prime Minister Viktor Orban has announced that his country would veto any possible EU sanctions against Poland.
"The European Union should not think about applying any sort of sanctions against Poland, because that would require full unanimity and Hungary will never support any sort of sanctions against Poland," Orban said, according to Reuters.
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.
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 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.
The effect of sanctions imposed on Turkey by Russia will be limited, the European Bank for Reconstruction and Development (EBRD) said on Dec. 7.
The Russian sanctions were imposed after a fighter jet which had violated Turkish airspace was shot down on Nov. 24. Moscow later announced it was a Russian aircraft.