(Adds quotes, impact on Finland, background)
HELSINKI, March 22 The Ukraine crisis has not
had much impact on international financial markets so far,
although it has hit Ukraine and Russia, European Central Bank
Governing Council member Erkki Liikanen said on Saturday.
Russian annexation of the Ukrainian region of Crimea has led
to sanctions against Moscow by the European Union and United
Asked about the impact of the crisis in a TV interview with
Finnish national broadcaster Yle, Liikanen said: "For
international, European financial markets, its impact has not
been large. It has been very large for Ukraine, large for
Russia, but on average it has been limited internationally."
The ECB has already discussed the crisis, said Liikanen, who
also heads the Bank of Finland.
Turning to further, possibly harsher European Union
sanctions against Russia, he said EU countries should share the
"It is extremely important that any EU sanctions treat all
member states in an equal manner," he said.
"One cannot think that those have already taken the biggest
hit would suffer more than the others."
Russia is one of Finland's largest trading partners, with
about one-tenth of Finnish exports going to its eastern
neighbour. Finnish industry is dependent on Russian raw
"The international uncertainty hits us strongly," he said.
The Finnish economy has seen two consecutive years of declining
gross domestic product.
"What has happened in Russia has already had an impact on
the Finnish economy," he said, citing increased uncertainty, a
weaker rouble and plunging stock prices in Russia.
(Reporting by Sakari Suoninen; Editing by Andrew Roche)