German Finance Minister Christian Lindner said that business with Russia has already been practically curtailed in light of the blockade of Russian banks, with only isolated transactions possible.
"We already have a complete blockade of Russian banks, thus business with Russia is already practically curtailed," the minister said Friday at a press conference with his French counterpart Bruno Le Maire. "In an isolated case, transactions are still possible, for example to pay for gas supplies or so that German companies can make transfers to their own subsidiaries in Russia," Lindner said. According to him, "all options" for additional restrictions are being discussed.
"Other steps are possible, but we have to think through their impact. The consequences must be felt by Russian economy," said the head of the Ministry of Finance of Germany.
European Union heads of state and government held an emergency summit in Brussels on Friday night to approve a second package of personal and economic sanctions against Russia over its military operation in Ukraine.
