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Ukraine crisis: Russian Finance Minister says Moscow will not bail out company owners

Published on Mar 20, 2014 7:34 PM
 
People stand in front of the Crimean parliament bearing the new sign reading "State council of Crimean Republic" in central Simferopol on March 18, 2014. Russia will not bail out companies who may face financial difficulties, Finance Minister Anton Siluanov said, as business owners worry about the impact of western sanctions over the government's moves to annex Crimea. -- FILE PHOTO: AFP

MOSCOW (REUTERS) - Russia will not bail out companies who may face financial difficulties, Finance Minister Anton Siluanov said, as business owners worry about the impact of western sanctions over the government's moves to annex Crimea.

German Chancellor Angela Merkel said on Thursday that European Union leaders would signal at a summit later in the day their readiness to ramp up punitive measures against Russia, including politically sensitive economic sanctions.

The west is responding to Moscow's decision to make the Ukranian region of Crimea part of Russia.

"We will watch how the situation develops, in what direction both our economy and the situation in the financial sector go," Siluanov told a local business conference on Thursday.

 
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