Germany Spokesperson: No big new sanctions package expected at EU summit on Russia

A spokesperson for the German government said on Wednesday that they were not expecting a "big new sanctions package" on Russia to be announced at the EU summit, as reported by Reuters.

The spokesperson further confirmed that German Chancellor Olaf Scholz warned Russian President Vladimir Putin against using chemical or biological weapons in direct talks.

Market reaction

The market mood remains risk-averse on Wednesday and Germany's DAX 30 Index was last seen losing 0.45% on a daily basis. Meanwhile, EUR/USD trades near 1.1000, losing 0.3% on the day.