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BRUSSELS, December 19. /TASS/. Recessionary financial trends in the Russian economy eliminate the possibility of new EU economic sanctions, a European diplomat told TASS on Friday on the sidelines of an EU summit in Brussels, adding that tougher sanctions against Russia were not on the agenda of the European Union.
“The deteriorating economic environment in Russia threatens EU countries with stagnation which could undermine their post-crisis recovery efforts,” the diplomat said.
“Under the worst-case scenario and if Russia declares default, European financial institutions will also sustain heavy losses which could have a knock-on effect. That is why new economic sanctions are out of the question,” he added.