European companies' Russian ties could make sanctions tough
ABC News
It's not simple for Europe to plan sanctions against Russia in case it invades Ukraine
FRANKFURT, Germany -- Europe is contemplating sanctions against Russia if it invades Ukraine — and the work is far from simple.
Sanctions would seek to maximize the pain for the Kremlin, its key banks and energy companies but also avoid jeopardizing the continent’s Russian-dependent energy supplies or inflicting too much damage on European companies with strong ties to Russia, including German industrial manufacturer Siemens AG, Italian tiremaker Pirelli and automakers like Volkswagen and Mercedes-Benz.
Russia has ties to world energy and financial markets and is home to major foreign partnerships and investments, so any measures will have repercussions outside the country. The question is how much.
The European Union's executive commission isn't revealing the sanctions it's discussing in order to leave the Kremlin guessing. Officials say measures would be more sweeping and severe than those imposed in 2014 after Russia annexed Ukraine’s Crimea peninsula.
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