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Former French president speaks against tougher sanctions against Russia

May 29, 2015, 18:08 UTC+3 MOSCOW

"One cannot but agree that sanctions are equally detrimental to both sides," Valery Giscard d'Estaing said

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Valery Giscard d’Estaing

Valery Giscard d’Estaing

© Yuri Mashkov/TASS

MOSCOW, May 29 /TASS/. The former French president, Valery Giscard d'Estaing, said on Friday that it would be short-sighted for Europe to wish harm to the Russian economy in the face of general global instability.

"The European Union should stand against the introduction of more rigid sanctions against Russia. One cannot but agree that sanctions are equally detrimental to both sides. Sanctions undermine business contacts," Valery Giscard d’Estaing said in a lecture which he delivered at the Moscow State University.

In the face of general instability in the world, growing violence in the Middle East and various uncertainties ahead of elections, including in the United States, no one can wish to harm the Russian economy," the ex-president stressed.

He said that the Russian economy was capable of withstanding those speculative actions. "We saw exchange rate fluctuations in October but the rouble has strengthened again by now," the French politician said adding that European politics towards Russia should not be confined exclusively to the Ukraine scenario.

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