Germany's Scholz: Russia's decision is serious breach of international law

German Chancellor Olaf Scholz said on Tuesday that Russia's decision to recognise the breakaway regions of Eastern Ukraine, Donetsk and Luhansk, as independent nations was a serious breach of international law, as reported by Reuters.

Additional takeaways

"International community must respond to unjustified reaction from Russia."

"Ukraine President deserves respect for not allowing himself to be provoked by Russia."

"We must reassess the situation in particular regarding Nord Stream 2."

"Certification of Nord Stream 2 cannot go ahead given Russia's latest actions."

Market reaction

These comments don't seem to be having a significant impact on the shared currency's market valuation. As of writing, the EUR/USD pair was up 0.38% on a daily basis at 1.1353.