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So far, sanctions are a slap on the wrist, but losing hard currency from oil and gas sales could put a real pinch on Russia.
European shares opened higher on Wednesday as better-than-expected Chinese growth data buoyed sentiment.
Brady Dougan, CEO of Credit Suisse, says the bank's fixed income business is "strong", while the investment banking arm has performed well.
Hiroshi Miyoshi, Mitsubishi CEO for Turkey and Central Asia, describes Turkey's appeal to Japanese firms, who invested $500 million in the emerging market last year.