The G-8(-1) is clearly concerned about the fall-out from this weekend’s referendum in Crimea and in its strngest language yet is condemning (and threatening) Russia:
- *G-7 CALLS ON RUSSIA TO ‘DE-ESCALATE THE CONFLICT IN CRIMEA’
- *RUSSIA ANNEXATION OF CRIMEA WOULD VIOLATE UN CHARTER: G-7
- *G-7 CALLS ON RUSSIA TO HALT SUPPORT FOR CRIMEA REFERENDUM
- *G-7 SAYS WILL NOT RECOGNIZE RESULT OF CRIMEA REFERENDUM
- *’CEASE EFFORTS TO CHANGE’ STATUS OF CRIMEA, G-7 TELLS RUSSIA
- *G-7 SAYS ANNEXATION OF CRIMEA WOULD HAVE ‘GRAVE CONSEQUENCES’
Then, after the threats, calls on Russia to let observers into the country and enter into talks with the Ukrainian government (which has already appeared to give up on Crimea). This comes as Ukraine’s PM visits Obama in D.C.
The Group of Seven most developed economies is calling on Russia to stop all efforts to “annex” Ukraine’s Crimea region, European Commission President Jose Manuel Barroso said today.
G7 leaders, European Council head Hermann Van Rompuy “and I will in a new declaration call on Russia to cease all efforts to annex Ukraine’s autonomous republic of Crimea,” Barroso said in a tweeted message.
“Together with other G7 leaders, Van Rompuy and myself have strongly and unequivocally condemned this action on behalf of the EU,” Barroso said.
Pro-Russian leaders there have organised a referendum for Sunday on whether Crimea should join with Russia, with most expecting the vote, if it goes ahead, to produce a large majority in favour.
Barroso said the referendum was illegal and called for immediate steps to de-escalate the situation.
“Any attempt to legitimise a referendum in Crimea is contrary to the Ukrainian constitution and international law and quite clearly illegal,” he said
“If meaningful negotiations do not begin within the next few days and produce results within a limited timeframe, this will trigger additional measures,” he added.
The G7 announcement will be made as Ukraine interim prime minister Arseniy Yatsenyuk heads for talks with US President Barack Obama, with the pressure for more sanctions against Moscow mounting.
Germany’s DAX continues to fall as tensions escalate and EURUSD hits EURUSD hits 1.39 as it appears China continues to diversify its FX reserves away from the USD and foereign capital flows are repatrated to the safety of Swiss 2Y rates