Will Sanction Work in Russia? To date, the sanctions placed on Russia have been limited and largely symbolic. A small number of business people and officials -- and one bank thought to be closely associated with the Kremlin -- have been hit with travel bans and asset freezes. The G-8 has been suspended and replaced with the G-7, which excludes Russia. And trade and financial negotiations between Russia and the West have been put on hold. The rather muted response reflects worry, particularly in Europe, that deeper sanctions could dampen economic growth and provoke retaliation from Russia. Some in Europe also want to follow a tiered strategy, which preserves off-ramps should Russia decide to step back from the brink and holds out the possibility that tougher measures are in store. For example, there is apparent consensus that, should Russia move into eastern Ukraine, the G-7 would implement more far-reaching sanctions on specific companies and industries. But how far can the sanction go? Lest not forget Moscows strength and resources as if affects European bloc.
Posted on: Fri, 11 Apr 2014 11:18:11 +0000
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