Who Will Threatened Sanctions Hit Most: US, EU, Russia? - globaldiscussion.net/topic/6095-who-will-threatened-sanctions-hit-most-us-eu-russia/ #US lawmakers are already threatening #Russia with economic sanctions over the crisis in #Ukraine. Trade, business, investment, and #G8 membership closely link the Russian, American and European economies. rt/business/us-eu-russia-sanctions-590/ However, despite the tough language and pledge of punitive action from the Obama administration, it remains unclear just how persuasive US measures are likely to be with a Russia that is economically and geopolitically stronger than at any time since the collapse of the Soviet Union, according to the Christian Science Monitor. In fact, the US accounts for only about 1 percent of Russian trade, so the US cannot expect to have significant economic influence. On the other hand, Russia is very dependent on trade with the #EU, as member states account for about 50 percent of total Russian imports and exports. It seems that EU, a crucial trade partner for Russia, could have much more influence with Moscow by imposing trade sanctions. But perhaps because of those close ties Western European leaders have so far sounded a more cautious note than Obama about imposing sanctions. The Telegraph stresses: “Satisfying as that may be to Western diplomats, economic sanctions will be extremely difficult to impose on Russia and are, for all their symbolism, likely to be counterproductive. For one thing, as is clear to anyone who knows Russia’s commercial landscape, many large and powerful Western companies have invested heavily in this vast, resource-rich country and won’t want their interests harmed.”
Posted on: Wed, 05 Mar 2014 11:48:58 +0000
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