World Economy

Sanctions Hurting Europe More

Sanctions Hurting Europe MoreSanctions Hurting Europe More

Sanctions put in place amid the crisis in Ukraine have caused more problems for Europe than Russia, the chief executive of Italian bank UniCredit was quoted as saying in an interview with a Czech newspaper, 1clicknews reported. “The sanctions have caused Russia problems and my impression is that (they are) even bigger for Europe,” Federico Ghizzoni said. UniCredit, Italy’s biggest bank by assets, was doing well in Russia despite the current situation but added an economic slowdown would impact the bank in that market, “but not immediately,” he said.