SANCTIONS WILL HIT RUSSIA HARD FT’s Kathrin
Post# of 5789
Posted On: 07/18/2014 10:02:54 AM
SANCTIONS WILL HIT RUSSIA HARD
FT’s Kathrin Hille and Courtney Weaver in Moscow and Geoff Dyer in Washington: “The latest package of sanctions on Russia … make use of a new weapon in the US armoury: blocking some of Russia’s most important companies from raising long-term finance in the US. … Judging by the swift and angry reaction from Russia to the new round of US sanctions over Ukraine, the administration has succeeded in its first goal of inflicting economic penalties on Russia.
“But it might not have insulated the US from retaliation. While many Russian government officials and tycoons derided a first wave of sanctions announced in March as meaningless, they voiced concern that the new measures will hurt the Russian economy. … In private, Russian business leaders are even more outspoken. A senior official at a large Russian state bank said sectoral sanctions were equivalent to an act of war. …. He added that Russia was likely to respond harshly to full sectoral sanctions with measures such as nationalising assets of US oil companies and banks in the country. ‘Citibank will just disappear here overnight,’ he said.”
http://on.ft.com/1nCFbm9
FT’s Kathrin Hille and Courtney Weaver in Moscow and Geoff Dyer in Washington: “The latest package of sanctions on Russia … make use of a new weapon in the US armoury: blocking some of Russia’s most important companies from raising long-term finance in the US. … Judging by the swift and angry reaction from Russia to the new round of US sanctions over Ukraine, the administration has succeeded in its first goal of inflicting economic penalties on Russia.
“But it might not have insulated the US from retaliation. While many Russian government officials and tycoons derided a first wave of sanctions announced in March as meaningless, they voiced concern that the new measures will hurt the Russian economy. … In private, Russian business leaders are even more outspoken. A senior official at a large Russian state bank said sectoral sanctions were equivalent to an act of war. …. He added that Russia was likely to respond harshly to full sectoral sanctions with measures such as nationalising assets of US oil companies and banks in the country. ‘Citibank will just disappear here overnight,’ he said.”
http://on.ft.com/1nCFbm9
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