EU delays more sanctions on Russia during Ukraine peace talks

Global Business

Fresh EU sanctions targeting Russia have been put on hold in order to give upcoming peace talks between Russia, Ukraine, France, and Germany a chance to succeed. CCTV’s Jack Barton reported the story from Brussels.

EU delays more sanctions on Russia during Ukraine peace talks

Fresh EU sanctions targeting Russia have been put on hold in order to give upcoming peace talks between Russia, Ukraine, France, and Germany a chance to succeed. CCTV's Jack Barton reported the story from Brussels.

European Union member states delayed a fresh round of sanctions targeting Russia as potential peace talks in the Belarusian capital aimed at ending the crisis in Ukraine draw closer.

“We decided unanimously to put the entry into force of the measures on hold until Monday [the] 16th as we believe it is our duty to give this attempt that we are doing a chance,” Federica Mogherini, EU High Representative for Foreign Affairs said. “Then we will have obviously the opportunity to assess the developments on the ground but also the developments of this initiative on Thursday with the Heads of State and governments.”

Ministers said they hoped the Minsk talks would lead to a diplomatic solution to the crisis in Ukraine. Others, like Britain, remain skeptical.

“We are delighted there are negotiations going on, but until we see Russia complying on the ground, withdrawing troops, closing the borders, stopping the flow of weapons, we can’t relieve the pressure in any way, we need to keep that pressure up until we see not just words on paper, but deeds on the ground,” Philip Hammond, Foreign Secretary of the United Kingdom said.

However, it was not sanctions, but transatlantic differences that appeared to dominate discussions on the sidelines.

Some U.S. military officials and politicians were pushing to supply Ukraine with lethal defensive weapons, such as anti-tank missiles, an option President Obama has neither endorsed or ruled out.

Almost all EU countries were against this, saying it would inflame the conflict. The one dissenting voice was Lithuania, whose foreign minister said the U.S. sending defensive weapons would be a logical next move.

Spain’s minister said his country objected to sending weapons or new sanctions on the grounds that it would hurt Europe’s economy. Madrid estimates that the current sanctions targeting Russia have cost the bloc $24 billion.


Analyst Joshua Cohen discusses Ukraine economy

Ukraine has been teetering on the edge of financial collapse as its currency value diminishes and foreign exchange reserves are running out. Its war with pro-Russian separatists in the east is costing some $7 million dollars a day. CCTV America interviewed analyst Joshua Cohen, a former U.S. State Department project officer at the U.S. State Department involved in managing economic reform projects in the former Soviet Union, about the Ukrainian economy.

Analyst Joshua Cohen discusses Ukraine economy

Analyst Joshua Cohen discusses Ukraine economy Ukraine has been teetering on the edge of financial collapse as its currency value diminishes and foreign exchange reserves are running out. Its war with pro-Russian separatists in the east is costing some $7 million dollars a day. CCTV America interviewed analyst Joshua Cohen, a former U.S. State Department project officer at the U.S. State Department involved in managing economic reform projects in the former Soviet Union, about the Ukrainian economy.


James George Jatras of American Institute in Ukraine discusses Ukraine crisis

CCTV America also interviewed James George Jatras, deputy director of American Institute in Ukraine, about fighting in Ukraine.

James George Jatras of American Institute in Ukraine discusses Ukraine crisis

CCTV America also interviewed James George Jatras, deputy director of American Institute in Ukraine, about fighting in Ukraine.