Rouble crisis feeds EU hope of Russia pull-back

According to Latvia's foreign minister Edgar Rinkecis on 7 January 2015, Russia's poor economic situation had made it show willingness to seek a solution with the European Union concerning the sanctions in place.

Mr Rinkecis also stated Latvia could support a roll-back of sanctions if Russia withdraws from eastern Ukraine.

Latvia had previously stated its EU presidency - which started in January 2015 - would not be 'anti-Russian'. French president François Hollande had also discussed the possibility of lifting the sanctions against Russia in an interview with a radio station. Russia was hit hard by the fall of oil prices and the devaluation of its currency [click here for more information].

Some sources had access to a discussion paper preparing a meeting of the 28 EU foreign ministers in Brussels on 19 January 2015, in which EU's high representative for foreign policy Federica Mogherini defended a renewed effort to improve EU's relations with Russia.

• Primary Source

ESO: Background information: Russia targets Cyprus, Hungary, and Italy for sanctions veto http://www.europeansources.info/record/russia-targets-cyprus-hungary-and-italy-for-sanctions-veto/

The Guardian, 08.01.15: EU leaders raise hopes of Putin breakthrough over Ukraine http://www.theguardian.com/world/2015/jan/08/eu-leaders-russia-putin-breakthrough-ukraine

Deutsche Welle, 08.01.15: Merkel: no end to Russia sanctions if Minsk agreement not met http://dw.de/p/1EHW2

EurActiv, 13.01.15: Latvia tempts Russia with lifting of sanctions http://www.euractiv.com/sections/europes-east/latvia-tempts-russia-lifting-sanctions-311207

BBC News, 12.01.15: Russia reveals huge cost of supporting the rouble http://www.bbc.co.uk/news/business-30777228

EUObserver, 14.01.15: Mogherini seen as proposing ‘business as usual’ with Russia https://euobserver.com/foreign/127204

EurActiv, 15.01.15: Mogherini suggests détente with Russia http://www.euractiv.com/sections/global-europe/mogherini-suggests-detente-russia-311288

The Times, 16.01.15: EU split as review of Russia sanctions looms http://www.thetimes.co.uk/tto/news/world/europe/article4324603.ece

Newsweek Polska, 16.01.15: Too early to ease sanctions on Russia (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE156718-Too-early-to-ease-sanctions-on-Russia

The Guardian, 18.01.15: Russia’s rouble crisis poses threat to nine countries relying on remittances http://www.theguardian.com/world/2015/jan/18/russia-rouble-threat-nine-countries-remittances

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