Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Germany urges 'prudence' in potential sanctions against Russia over Ukraine

Published 23/01/2022, 15:46
Updated 23/01/2022, 15:51
© Reuters. FILE PHOTO: German Chancellor Olaf Scholz gives a statement before a cabinet enclosure at the Chancellery to lay out and discuss Germany's policy plans for its G7 presidency in Berlin, Germany, January 21, 2022.    Michael Kappeler/Pool via REUTERS

© Reuters. FILE PHOTO: German Chancellor Olaf Scholz gives a statement before a cabinet enclosure at the Chancellery to lay out and discuss Germany's policy plans for its G7 presidency in Berlin, Germany, January 21, 2022. Michael Kappeler/Pool via REUTERS

BERLIN (Reuters) - Germany's leader has urged Europe and the United States to think carefully when considering sanctions against Russia for any aggression against Ukraine in a crisis pitting Berlin's main gas supplier against its biggest security allies.

Among a range of possible Western sanctions https://www.reuters.com/markets/europe/how-financial-western-sanctions-might-target-russia-2022-01-19 against President Vladmir Putin's government, Germany could halt the Nord Stream 2 https://www.reuters.com/world/europe/germany-signals-it-could-halt-gas-pipeline-if-russia-invades-ukraine-2022-01-18 pipeline from Russia if it invades Ukraine.

But that would risk exacerbating a gas supply crunch https://www.reuters.com/world/europe/ukraine-crisis-germany-faces-tough-decisions-over-gas-pipeline-2022-01-20 in Europe that has caused energy prices to soar.

"Prudence dictates choosing measures that will have the greatest effect on those who violate the jointly agreed principles," German Chancellor Olaf Scholz Scholz was quoted as saying by the Sueddeutsche Zeitung newspaper on Sunday.

"At the same time, we have to consider the consequences this will have for us," Scholz added, saying nobody should think there was a measure available without consequences for Germany.

According to a pre-release of the interview, Scholz also countered any impression that the United States and Europe could not agree on a joint set of sanctions.

"In the circle of allies, we agree on possible measures. It's good. We have to be able to act in case of an emergency," he said.

The European Union has threatened "massive" sanctions and U.S. Senate Democrats have unveiled a bill to potentially punish Russian officials, military leaders and banking institutions.

Russia has massed tens of thousands of troops near Ukraine's borders but denies planning to invade the former Soviet republic. It is already subject to some sanctions since its 2014 annexation of Crimea from its neighbour.

© Reuters. FILE PHOTO: German Chancellor Olaf Scholz gives a statement before a cabinet enclosure at the Chancellery to lay out and discuss Germany's policy plans for its G7 presidency in Berlin, Germany, January 21, 2022.    Michael Kappeler/Pool via REUTERS

Scholz rejected a demand by Russia to rule out once and for all Ukraine's membership of transatlantic military alliance NATO. "Such a guarantee can't be given," the chancellor said.

But he did say that NATO membership of other nations in eastern Europe was "currently not on the agenda at all".

Latest comments

'prudence'? Germany is dependent on Russian gas, really 'prudence' not?
Shouldn’t have closed down all nuclear power stations and signed up for russian gas forever; suppose Merkal legacy not looking good now !
Germans at it againwhats best for them and forget about all the potential dead in ukraine
Why does NATO still exists if not to threaten Russia? This teasing has to stop. Russia is not an enemy since 1986 when Soviet Union fell. Give Russians respect of the great nation. They deserve it.
then maybe they should try diplomatic routes 1st, rather than threatening a sovereign state by amassing 10000 troops on its border. crimea is a good example, had Putin just talked to Ukraine and other world leaders a peaceful transfer might have been possible, especially since the vast majority of people in crime wanted to be Russian. instead russia takes it be steath and force (although the force met with little resistance).NATO are only there to protect against an invasion, rather than to invade. if NATO didn't exist, how would all the smaller countries in EU defend themselves??
on shakey grounds to give advice i would say
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.