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ECB’s Praet expresses anxiety over long-term effects of sanctions on Russia

October 11, 2014, 3:21 UTC+3 WASHINGTON
“I’m worried because it’s not ending. If it could stop at some point,” he told
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WASHINGTON, October 11. /TASS/. Peter Praet, member of the Executive Board of the ECB (European Central Bank), expressed anxiety over the long-term effects of the sanctions against Russia.

“I’m worried because it’s not ending. If it could stop at some point,” he told TASS on the sidelines of the ECB conference.

“The sanctions per se, it’s not so damaging. But it spoils the whole long-term perspective,” Praet said.

He answered in the affirmative for a question if the ECB tried to give a quantitative assessment to the effects of imposing sanctions and countermeasures. “We’ve tried but you always find these little figures. It’s not about the importance of trade, no. It’s the longer-term, the strategic plan of all business,” Praet said.

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