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Christopher Granville, managing director at Trusted Sources, and Chris Weafer, senior partner at Macro-Advisory, agree that Angela Merkel's role in the negotiations with Russia will be "critical".
Daragh McDowell, senior analyst at Maplecroft, says that the European Union's sanctions on Russia are not a major blow to the country's economy, but it shows the bloc's intent.
European Union leaders imposed further sanctions on Russia, ramping up the pressure on President Vladimir Putin. Europe's leaders talk to CNBC about the move - with some calling for more action.
Russian President Putin warned that U.S. sanctions will take relations with Russia to a "dead end" and damage U.S. business interests.
Former British ambassador to Russia, Tony Brenton, says the sanctions agreed by EU leaders are "accentuating antagonism" between Russia and the West.
President Obama addresses situations in Afghanistan, Iran and diplomatic efforts to end violence between Israel and Hamas. President Obama also announces expanded sanctions against Russian businesses and individuals.
President Obama escalated sanctions against Russia on Wednesday by targeting a series of large banks and energy and defense firms.
Vladimir Putin swung through Latin America arranging energy deals—but that's not the only thing he hoped to achieve.
Martina Bozadzhieva, senior analyst for Central and Eastern Europe at Frontier Strategy group, discusses investing in Ukraine and Russia and says forecasting and putting targets are the main challenges.
Riccardo Monti, president of the Italian Trade Agency, discusses the EU/Russia trading relationship and says that while the bloc should put pressure on Russia, it should be done in "a smart way".
Jorge Mariscal, Regional CIO, Emerging Markets at UBS, says internal weaknesses among BRICS nations was likely the main catalyst for the creation of the new development bank.
Luca Silipo, Chief Economist for Asia Pacific at Natixis, explains why emerging countries will need a multilateral institution that oversees issues like financing.
Jim Rickards, Senior Managing Director at Tangent Capital, explains how the new bank differs from the World Bank and the International Monetary Fund.
Ukraine's deputy minister of foreign affairs Danylo Lubkivsky, says Russia wants to stop Ukraine moving closer to the EU for fear of losing control in the region.
Ukraine's deputy minister of foreign affairs Danylo Lubkivsky, says the government is ready to "conduct open and transparent" dialogue with Russia.
Jan Randolph, director of sovereign risk at IHS, says Putin's strategy to create a "Eurasian dream" has been a "disaster".
For those interested in putting money into the oil-rich nation, a new directive has made it more appealing.
Slovakia's proximity to Ukraine, which is in conflict with Russia, poses dangers, the Slovak deputy prime minister told CNBC.
Daragh McDowell, senior Russia analyst at Maplecroft, says pro-separatist fighters in Ukraine may lay down their arms if they realize their campaign is hopeless.
Overreliance on Russian gas leaves Europe vulnerable if the Ukraine conflict escalates, analysts warned.