By Dow Jones Business News,
July 01, 2014, 07:35:00 AM EDT
BERLIN--Possible negative consequences for Germany's economy won't keep it from backing tougher sanctions against
Russia, German Finance Minister Wolfgang Schaeuble said Tuesday, calling on Moscow to respect international rules and
help stabilize the situation in Ukraine.
His comments come with the European Union possibly about to impose new sanctions against Russia as early as Tuesday
after Ukraine's President Petro Poroshenko suspended the 10-day cease-fire against pro-Russian separatists that expired
"We actually don't want any sanctions," Mr. Schaeuble told the Foreign Press Club, saying Germany wants a partnership
with Russia. "But we have to insist that [international] rules will be respected."
Sanctions "will probably impact [our economy] but this will not keep us from doing what has to be done," he said. "It
is absolutely clear: nobody should believe that we won't do what we say we would do because of economic concerns."
Norbert Roettgen, a senior lawmaker with Chancellor Angela Merkel's conservative parties and chairman of the lower
house of parliament's foreign policy committee, said he expects the EU to impose further sanctions against Russia later
Germany's economy has close ties with Russian companies and Berlin had been reluctant to back sanctions and instead
put more emphasis on diplomacy. However, the government has lost patience with Russian President Vladimir Putin as
Moscow doesn't appear to be putting enough pressure on pro-Russian separatists to help calm matters in Ukraine.
Europe and the U.S. threatened Russia Friday with further sanctions if Moscow doesn't take concrete steps to de-
escalate the situation in Ukraine by Monday.
During their summit on Friday, EU leaders had identified four concrete measures that must be taken if Moscow wanted to
avoid new sanctions. They include establishing "effective control of the border" with independent monitors, the release
of hostages and the launch of peace talks.
-Laurence Norman in Brussels contributed to this report.
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