July 29, 2014
The International Monetary Fund (IMF) has warned that the sanctions imposed on Russia over the ongoing crisis in Ukraine would have adverse effects on a global scale.
Speaking at a news conference on Wednesday, IMF spokesman William Murray said that the potential global impacts of the anti-Russia sanctions are “still under assessment, but clearly you would anticipate – through trade channels – that there would be an impact.”
Murray also emphasized that the sanctions are expected to affect the economies “that have very active and direct trade links with Russia, particularly in eastern and central Europe and central Asia.”
The remarks come amid reports that the European Union (EU) ambassadors have agreed to add 15 individuals and 18 companies to the sanctions blacklist targeting Moscow.
Under proposals considered by the 28-nation bloc’s member states, there could be a ban on European purchases of shares or bonds sold by Russian state-owned banks.
Brussels has so far imposed sanctions such as travel bans and asset freezes against Russian and pro-Russia figures. The restrictions were imposed after a decision by Ukraine’s then autonomous region of Crimea to join the Russian Federation in March. More than 60 individuals as well as firms have been put on the sanctions list.
The EU has called for tougher sanctions against Moscow since July 17, when the Malaysia Airlines Boeing 777 was reportedly shot down over Ukraine’s volatile Donetsk region while en route from the Dutch city of Amsterdam to Kuala Lumpur, killing 298 passengers and crew on board.
Western powers are accusing pro-Russia forces of having shot down the civilian airliner. The pro-Russians deny any involvement in the tragedy and, in turn, accuse Kiev of being responsible for the plane’s crash.
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