Russia has protested to Germany's new ambassador over comments by the German finance minister. Wolfgang Schäuble likened the Russian takeover of Crimea to the Nazi annexation of the Sudetenland in 1938.
Russian stock markets have fallen for the third day as the specter of new EU sanctions chills investors. Speculators lost appetite for Russian risk after Moscow was ordered to compensate former Yukos shareholders.
The EU has agreed to step up sanctions on Russia for Moscow's role in the Ukraine crisis. CDU foreign policy specialist Philipp Missfelder tells DW that economic sanctions can be effective, but are 'no panacea.'
The EU has for the first time adopted new sanctions against Russian oil companies, banks and defense firms over the Kremlin's support of separatist violence in Ukraine. Similar measures from the US could soon follow.
European Union ambassadors meeting in Brussels have reached a preliminary agreement on stepping up sanctions against Russia over Ukraine. The proposals are to be reviewed next week.
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