ESPOO: Finland will seek compensation from the EU if sanctions imposed on Russia last week lead to an economic crisis in the country, Finnish Prime Minister Alexander Stubb said yesterday.
“It is without doubt clear that, if sanctions hit Finland disproportionately, we will seek support from our European partners,” Stubb said at a press conference.
“We have to stick to the principle of economic solidarity. In practice, this means that those member states most affected by the sanctions should also receive some form of compensation.”
Stubb did not specify what type of compensation he would demand. Finland struggled with recession in 2012 and 2013 and is already feeling the effects of weaker trade with neighbouring Russia since the beginning of the Ukrainian conflict. The Bank of Finland estimates a 3-percent fall in the Russian economy would shrink Finland’s output by 0.5 percent. “I dare say that there is a potential risk of — and I stress that it is potential — an economic crisis 2.0,” Stubb said.
AFP
