As the European Union steps up its response to Russian president Vladimir Putin’s annexation of Crimea, German companies are urging caution lest sanctions harm their business ties -- and Europe’s shaky economic recovery.
The U.S. and the European Union warned Russia not to annex Crimea after a referendum in the southern Ukrainian region, setting the stage for sanctions on Russia in the worst diplomatic standoff since the Cold War.
The rebound in Russian stocks will prove short-lived as President Vladimir Putin faces stiffer sanctions as he moves toward annexing Crimea, according to PineBridge Investments LLC and Firebird Management LLC.
Western leaders condemned Russian President Vladimir Putin’s push to annex Crimea and promised further sanctions as early as this week, ratcheting up pressure in the biggest diplomatic crisis since the Cold War.
U.S. Secretary of State John Kerry arrived in London to press his Russian counterpart to halt a takeover of Ukraine’s Crimean peninsula after clashes killed one person and injured dozens in the country’s east.