Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Western leaders agreed to extend Russia sanctions by six months - diplomat

Published 21/11/2015, 23:10
© Reuters. Putin attends video conference with Russia's personnel engaged in Syria military operation at Novo-Ogaryovo state residence outside Moscow

(Reuters) - Western leaders who met on the margins of last week's Group of 20 summit in Turkey agreed to extend sanctions imposed on Russia for its intervention in Ukraine by six months until July of next year, a senior European diplomat told Reuters.

The decision was taken despite mounting calls to cooperate more closely with Russian President Vladimir Putin in the fight against Islamic State following the militant group's Nov. 13 attacks in Paris which killed 130 people.

U.S. President Barack Obama, Germany's Angela Merkel, Britain's David Cameron, Italy's Matteo Renzi and French Foreign Minister Laurent Fabius, who represented President Francois Hollande at the summit, attended the brief meeting near the conclusion of the G20 meeting in Antalya.

The sanctions are due to expire in January, before full implementation of the so-called Minsk peace deal, which aims to resolve the standoff between Kiev and pro-Russian separatists in eastern Ukraine.

Western countries have said all elements of Minsk need to be fulfilled before they can consider easing the sanctions.

In particular, the diplomat said, the leaders had concluded that it was important to maintain pressure on Russia ahead of planned elections in eastern Ukraine.

"The elections in Ukraine are heavy lifting," the diplomat said, requesting anonymity because the agreement in Antalya was confidential.

"We only have a chance to get what we want if we play the sanctions card. Financial sanctions need to stay in place until the bitter end," the diplomat added.

Following the attacks, Hollande has called for a grand coalition of nations to fight Islamic State, which controls large swathes of Syria and Iraq. The French president is due to travel to Moscow on Nov. 26 to discuss closer cooperation with Putin.

© Reuters. Putin attends video conference with Russia's personnel engaged in Syria military operation at Novo-Ogaryovo state residence outside Moscow

German Chancellor Angela Merkel will dine with Hollande in Paris the evening before his trip and, according to German officials, will urge him to remain firm on the sanctions question while in Moscow.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.