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EU intends to prepare a response to possible US sanctions


October, 21 2020
watermark Economic news

German Foreign Ministry spokesman Christopher Burger said that the European Commission intends to consider ideas on measures to respond to economic sanctions by the United States by the end of the year.


The proposals imply the formation of an EU export bank up to the creation of a digital euro. This will allow the EU to be independent from the US financial system.


Moreover, the «pan-European instrument» should enable the European Union to respond to sanctions with retaliatory sanctions as a last resort. Also among the discussed measures – restrictions on the import of mobile phones from China.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.