US President said he was not about to impose new sanctions on Russia over the Ukraine crisis, but nevertheless signed a law giving him the authority to do so.
The European Union's foreign policy chief said the 28-nation bloc would stay united on Ukraine despite pressure from some members to drop or ease its sanctions on Russia.
According to him, The legislation framework of the Customs Union enables its member states to take concerted actions in response to economic pressure exerted on any of the member states by a third party.
President Barack Obama said Russian counterpart is unlikely to shift his stance on Ukraine until the full force of economic sanctions levelled against Moscow hits home.
Such sanctions should be introduced by the UN rather than by an individual state or a group of states. Hardly had we overcome the crisis of 2007-2009, when we faced a new one: President Nazarbayev.
Russia is set to lose around $40 billion (32 billiUon euros) per year due to Western sanctions over the Ukraine conflict, Finance Minister Anton Siluanov said.
Nazarbayev has spoken about a program of large-scale infrastructure development in Kazakhstan and the government actions to counter possible negative circumstances in the global economy.
I want to emphasize that when the USA and other nations were drafting sanctions, the sanctions were to be pin-pointed to be targeted at certain figures and companies, he said.
Russian oil giant Rosneft and a close associate of President Vladimir Putin are fighting the EU in court over sanctions imposed on some of Russia's biggest companies.
Rolls-Royce announced that it was slashing its earnings forecasts partly as result of Western trade sanctions against Russia, causing a share price collapse.
Amidst sanctions standoff between the West and Russia, Kazakhstan is concerned with the lack of its own payment system. Experts comment on possibilities and limitations in introducing such a system.