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Posts Tagged ‘food embargo’
October 21st, 2016

We Can Go Screw Ourselves

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Picture by svobodnoslovo.eu

Economic sanctions imposed by the West on Putin’s friends and their enterprises, as well as on the most sensitive sectors of the Russian economy—the oil and gas industries and the capital market—have been in effect for more than two years. These measures, however, have failed to restore Ukraine’s sovereignty over the Donbass and Crimea, or to make the Russian military admit its obvious guilt in the crash of the Malaysian Airlines plane. Russian citizens, intoxicated by Kremlin propaganda, do not seem to be interested in the reasons behind the lack of accessible credits, the rise in prices, and the freezing of pension savings, but continue to largely support the aggressive international policy of their presumptuous rulers. So what is the result of the renowned Western sanctions?

In two and a half years, Russia has lost a considerable amount of foreign investments that the country was supposed to receive, and was forced to suspend indefinitely the exploration of new oil and gas fields due to the ban on the import of technologies and equipment. Both factors will continue to have a negative effect on the revenues of the Russian budget. Putin’s economic advisers—the market-oriented Aleksei Kudrin and the anti-market Sergei Glaziyev — both evaluate Russia’s losses resulting from the annexation of Crimea and the introduction of sanctions at no less than $200 billion. According to other experts, the largest part of these losses amounting to $170 billion was caused by Western sanctions. >> Read more