BoE's Bailey says there should be "no appeasement" of Russia

LONDON - Western countries should not appease Russia following its invasion of Ukraine even if there are difficult economic consequences, Bank of England Governor Andrew Bailey said on Thursday.

"What Russia is doing in Ukraine is appalling," Bailey said at a discussion in Washington hosted by the Peterson Institute for International Economics.

"My view - and I'm a central banker, not a politician - is that there should be no appeasement of Russia because we have to deal with economic problems as a consequence," he added.

Bailey, along with top U.S. and Canadian officials, walked out of a G20 meeting in Washington on Wednesday when a Russian delegate spoke.