Brussels, 16/04/2014 (Agence europe) - On 16 April, Cypriot Foreign Minister Ioannis Kasoulides warned against economic sanctions against Russia, as these would destroy the Cypriot economy. “There are very strong economic relations between Cyprus and Russia (…). This is why sanctions against Russia would destroy the economy of Cyprus”, he told an interview with the German daily newspaper Die Welt.
Kasoulides called for an à la carte application of sanctions. “Should sanctions really prove necessary, each member state should be able to decide for itself whether or not it wishes to take part”, the minister explained. He added that “whatever the measures, they should not harm us”. “Obviously, if there are sanctions against Russia, we will insist on being compensated”, Kasoulides went on to stress. “However, it is far more reasonable to agree that the sanctions be defined in such a way as to spread the economic effects out fairly between all of the member states. This would lead to far more measured sanctions”, the Cypriot minister argued.
Cyprus is home to many major Russian assets and the headquarters of many Russian companies. Russia granted Cyprus a loan in 2011.
Russia hits out at European sanctions. On 15 April, Russian Foreign Minister Sergei Lavrov hit out at the European sanctions against his country, which he described as unjustified and counter-productive. “All of the sanctions against Russia are unjustified and counter-productive”, he explained. “Instead of frightening us with a new raft of sanctions, the European Union would be better advised to focus on jointly seeking a solution to the Ukrainian domestic crisis”, he added.
The next day, the Russian Ministry denounced the statement by the French Minister, Laurent Fabius, stressing Russia's responsibility in the troubles in Eastern Ukraine. “Russian diplomacy declares its great perplexity at Mr Fabius' statements, in which he lays all of the blame for the mounting tension in Ukraine exclusively at Russia's door”, the Ministry explained, accusing France of “making gratuitous accusations against Russia”.
The foreign ministers of Russia, Sergei Lavrov, and Ukraine, Andrii Dechtchitsa, will meet American Secretary of State John Kerry, and High Representative of the EU for Foreign Affairs and Security Policy Catherine Ashton in Geneva on 17 April to seek a solution to the Ukrainian crisis. The day before, preparations for this meeting were still underway. (CG)