The Panhellenic association of exporters (PSE) has addressed the European Commission over the European Union’s latest sanctions against Russia and the effect they will have on Greek exports.

The European Commission responded that that it has vowed to introduce further sanctions against the Russian Federation, unless it uses its influence to help deescalate the Ukrainian crisis.

Additionally, the Commission pointed out that a series of trade agreements have been signed with Ukraine, Moldova and Georgia, which will benefit European industry and exports.

The EU’s latest sanctions against Russia, which aim to restrict Russia’s access to the European credit markets, will be published and come into effect on Friday.