Some European Countries Voice Concerns Over Economic Damage if Russia Sanctions Are Imposed

Tony Blinken, U.S. Secretary of State   <br>Photo by AP Yonhap News

Tony Blinken, U.S. Secretary of State
Photo by AP Yonhap News

View original image


[Asia Economy Reporter Park Byung-hee] U.S. Secretary of State Tony Blinken drew a line ahead of the talks with Russia on the 10th (local time) to discuss the Ukraine border dispute issue, stating that he does not expect a breakthrough in this meeting.


In an interview with CNN on the 9th, Secretary Blinken said, "I do not expect a diplomatic breakthrough to be made in this meeting," adding, "This meeting will be an opportunity to discuss Russia's concerns related to the North Atlantic Treaty Organization (NATO), and I hope there will be areas where both sides can agree."


It is reported that tension was high during the preliminary talks between the U.S. and Russian delegations held in Geneva, Switzerland, on the same day. Russian Deputy Foreign Minister Sergei Ryabkov, who participated in the talks, said, "There is some basis for optimism," but emphasized, "We will not agree to any concessions, and the West must abandon NATO expansion and withdraw existing military facilities."


The U.S. and Russia are scheduled to hold security strategy talks in Geneva, Switzerland, on the 10th. Subsequently, negotiations between Russia and NATO will take place on the 12th, followed by talks between Russia and the Organization for Security and Co-operation in Europe (OSCE) on the 13th, continuing the series of negotiations between the West and Russia over the Ukraine issue.


If there are no clear results from the consecutive negotiations, an escalation of conflict between the West and Russia is expected to be inevitable. On the same day, Bloomberg News cited sources reporting that the U.S. is considering imposing high-level export controls similar to those on North Korea if Russia invades Ukraine.


According to sources, ahead of the series of talks with Russia starting on the 10th, the U.S. and its allies are reviewing sanctions measures centered on export controls of advanced technology and electronic products to Russia. Regarding some measures, sources said that export controls as strong as those imposed on Cuba, Iran, North Korea, and Syria could be applied.



However, it is reported that differences in stance between the U.S. and Europe have emerged over the issue of sanctions against Russia. Russian President Vladimir Putin stated during a phone call with U.S. President Joe Biden on the 30th of last month that if the West imposes sanctions on Russia, Russia will respond with strong sanctions that could sever relations with the West. European countries, which have already experienced a surge in energy prices due to Russia limiting natural gas supplies, inevitably face a heavy burden. While European countries agree in principle that meaningful sanctions should be imposed if there is an invasion of Ukraine, Bloomberg reported that there are also strong voices emphasizing the need to consider economic damage.


This content was produced with the assistance of AI translation services.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Today’s Briefing