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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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Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.