The chief executive of Société Générale, France's second-largest bank by market value, said he is committed to keeping links between Europe and Russia strong, in light of the crisis in Ukraine.
Frédéric Oudéa said that because Russia is such a key partner for many European countries, especially in the energy sector, he expects that any European Union sanctions against Russia would be limited as both regions have too much to lose.
(Read more: Crimea referendum: Why it's so important )
"My central scenario is limited sanctions and of course it creates uncertainty for the time being. It can create, for a short period of time, less access to international markets," Oudéa told CNBC.
"But fundamentally I can confirm my commitment to Russia in the long term, because my strategy vision is the link will remain strong with Europe," he said.
European Union foreign ministers are in talks to approve sanctions against Russia in response to the Russia's actions in the southern Ukrainian region of Crimea.
(Read more: $3 billion for Ukraine to go straight to...Russia)
Crimea's pro-Russian authorities plan to hold a referendum on Sunday -- condemned as illegal by the West -- which is expected to overwhelmingly back the region's unification with its larger neighbor Russia.