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Societe General CEO: European sanctions against Russia will be limited

March 14, 2014, 6:51 UTC+3 PARIS
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PARIS, March 14, /ITAR-TASS/. The European Union’s sanctions against Russia that may be taken in connection with the Ukrainian crisis will be limited, the more so, since Europe itself may suffer from excessive pressures on Moscow, the chief executive officer of the French bank Societe General, Frederic Oudea, said on the BFM-Business radio station on Thursday.

“My strategic vision is ties between Europe and Russia will be getting stronger in the long term,” Oudea said. He is certain that the European Union may lose a great deal if it goes ahead with a policy of tightening economic sanctions against Russia.

Oudea described Russia as a very important market for the European economy. It will certainly continue to play a considerable role in developing the EU he believes.

“We put a long-term stake on this,” Oudea remarked, adding that in his opinion sanctions would be rather limited.

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