Skip to content

Europe Fears Economic Hit If Russia Is Sanctioned Heavily

  • Some big European powers expressing worry in talks with U.S.
  • Comes as Russia continues troop buildup near Ukraine border
Currency Exchanges As Russian Markets Shake Off Sanctions Talk
Photographer: Andrey Rudakov/Bloomberg
Updated on

Concern among some big European nations about economic fallout raises the risk of a split with the U.S. on how strongly to hit Russia with fresh sanctions if it invades Ukraine, according to people familiar with the matter.

Western allies are united in their desire to prevent a war as they hold high-stakes talks this week aimed at defusing tensions with Russia, warning it faces massive penalties for any incursion. Actions that have been discussed include export controls, curbing Russia’s access to technology, and even cutting it out of the global system for financial payments.