EU Concerned about Cost of Sanctions on Russia

Russia's aggression in Ukraine has set off plenty of bluster and aggressive rhetoric in Europe. But many EU member states are skittish about the potential dangers of imposing punitive economic measures on Moscow.

Great Britain would very much like to penalize Russia for its encroachment on the Crimean Peninsula. But it should cost the UK as little as possible. That, it would appear, is London's strategy for dealing with Moscow's aggression against Ukraine -- an approach made public through an embarrassing blunder on Monday. A freelance photographer snapped a picture of a classified document held by a government official as he entered Downing Street for consultations. The document outlined the potential punitive actions British Prime Minister David Cameron might take against Russia.

Britain should "be prepared to join other EU countries in imposing 'visa restrictions/travel bans' on Russian officials," the paper advised. It added that Britain should "not support, for now, trade sanctions … or close London's financial center to Russians."

The message is clear: The British economy, which profits immensely from wealthy Russians, should be protected from potential fallout from the ongoing stand-off over Ukraine. Sanctions of some sort, it has become increasingly clear, will almost certainly be imposed, particularly with EU leaders gathering in Brussels on Thursday to develop a joint bloc response.

But the document photographed outside Downing Street reflects the deep wariness in the EU of the potential costs associated with punitive action against Moscow. Brussels wants to send a message, while preventing excessive backlash.

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http://www.spiegel.de/international/europe/eu-concerned-about-potential-high-cost-of-sanctions-on-russia-a-957101.html#ref=nl-international