Commodities, Emerging Markets

Russia Faces Global Isolation, Further Sanctions Amid Ongoing Crisis In Ukraine, Cameron And Obama Warn At G20

UK PM Cameron (left) with Russian President Putin (right) at 2014 G20 Summit in Australia. Photo courtesy of Alexi Druzhinin/RIA Novosti/EPA

UK PM Cameron (left) with Russian President Putin (right) at 2014 G20 Summit in Australia. Photo courtesy of Alexi Druzhinin/RIA Novosti/EPA

Europe and the U.S. have sent a clear message to Russian President Vladimir Putin during the G20 Summit in Brisbane that the nation faces isolation from the global community and further sanctions if the crisis in Ukraine is not resolved, British Prime Minister David Cameron and U.S. President Barack Obama said on Sunday, according to Reuters.

“At this point the sanctions we have in place are biting plenty good,” Obama said, following the G20 meeting in Brisbane, according to Reuters.

“We retain the capability, and we have our teams constantly looking at mechanisms in which to turn up additional pressure as necessary,” Obama said, according to Reuters.

“I think that Russia needs to know that there is a real unity of purpose between America and the European Union in making sure we don’t have some sort of permanent frozen conflict on the continent of Europe,” Cameron said to reporters on Sunday, according to Reuters.

British Prime Minister Cameron warned that the geopolitical risks amid the ongoing conflict in Ukraine outweighed the risks of further economic sanctions on Russia.

“If that is to happen, I don’t believe the relationship between Russia on the one hand and Britain and Europe and America on the other hand can be the same,” Cameron added.

“I hope that even at this late stage, President Putin takes a different path,” Cameron told reporters, adding that Putin “can see that he’s at a crossroads.”

Source: Reuters

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