US and EU expand sanctions on Russia

[webfact]

Ukraine conflict: US and EU widen sanctions on Russia

WASHINGTON: -- US President Barack Obama has announced new economic sanctions against Russia, saying they will make Russia's "weak economy even weaker".

He said the co-ordinated actions of the US and European Union would "have an even bigger bite" on Russia's economy.

The new restrictions include banning Americans or people in the US from banking with three Russian banks.

The aim is to increase the cost to Russia of its continued support for pro-Moscow rebels in eastern Ukraine.

Moscow denies charges by the EU and US that it is supplying heavy weapons to the rebels.

Full story: http://www.bbc.com/news/world-europe-28551391

[bbc]2014-07-30[/bbc]
 

[Robby nz]

And Russia retaliates by announcing it will no longer accept US Dollars or Euros for the oil and gas it sells to EU countries, requiring instead to be paid in either Rubles or Yuan.

[rethaier]

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

[Credo]

Sometimes sanctions work, sometimes they don't.   Sanctions should be an alternative to going to war.   War is instantaneous, sanctions may take a long time to work.   

 

 

[rickirs]

Not quite Kimosabe.

 

The ruble rate is determined by an international floating currency market. In January 2014 the ruble reached its lowest level (more rubles to buy  USD/Euros) in five years with a high 25%-30% volatility – more imposed US/EU economic sanctions can drive the ruble exchange rate even lower. A “weak” ruble is great for consumption of domestic goods as they will be cheaper than imported goods and great for export of Russian goods and resources because they will be cheaper than foreign competition. But inflation of the ruble will make EU purchases of Russian resources and Russian stocks a bargain purchase. Ukrainian debt to Russia also becomes cheaper to Ukraine's benefit and to Russia's detriment.

 

According a recent interview with Natalya Ortiva, chief economist at Alfa Bank in Moscow, “All the rubles that are out there have been turned into dollars.” Smart. To reverse the conversion of the ruble to dollars, Ortiva said it “would require a massive increase in interest rates that would shake the fragile banking system and the slumping economy.”

 

It’s not practicable for Russia to stop accepting USD’s and EU’s in the near future. Russia has backed itself into an economic corner.

 

The position of the yuan is even more tenuous than the ruble as it’s not subject to the international floating currency market. China’s economic policy has created a State two-tier currency exchange system whereby the yuan has been artificially deflated for domestic purposes but inflated for foreign purposes. Russia would be better off taking baht instead of yuans.   

 

 

And Russia retaliates by announcing it will no longer accept US Dollars or Euros for the oil and gas it sells to EU countries, requiring instead to be paid in either Rubles or Yuan.

 

[IAMHERE]

Sometimes sanctions work, sometimes they don't.   Sanctions should be an alternative to going to war.   War is instantaneous, sanctions may take a long time to work.   

 

 

Yes, a very long time if at all. Cuba, North Korea, and even Japan prior to WW2.

[Asiantravel]

The decision to sanction Russia's largest banks and ban trading and capital markets access has ramifications for the global financial system's stability given the increasingly inter-connected nature of the world.  Bloomberg Briefs' chart of the most exposed banking systems by nation to any systemic issues in Russia

 

 

 

Edited July 30, 2014 by Asiantravel

[techboy]

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

Oooo. Heavy dude. :boring:

[rethaier]

 

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

Oooo. Heavy dude.

 

 

Maybe.  But with what's happening in Israel, Iraq, Syria, the Ukraine and with that idiot dictator in the whitehouse and his heartless cohort Hillary the situation is not looking good.

Edited July 30, 2014 by rethaier

[joepublic]

And Russia retaliates by announcing it will no longer accept US Dollars or Euros for the oil and gas it sells to EU countries, requiring instead to be paid in either Rubles or Yuan.

 

Where did you see this - very interesting if true

[joepublic]

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

 

From current information, the US is claiming this violation happened in 2008. As yet, I've not seen them produce any evidence, but I've not yet seen the Russians deny it either.

 

But why bring this up now - that's the real question.

 

My current information suggests that he reason this is being brought up now, is that the USA wants an excuse to deploy its own weapons near the Russian border, to put pressure on the Russians. This is part of the USA strategy for Ukraine that was started, in traditional US style, by the engineering of the coup.

 

Business as usual

[rethaier]

 

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

 

From current information, the US is claiming this violation happened in 2008. As yet, I've not seen them produce any evidence, but I've not yet seen the Russians deny it either.

 

But why bring this up now - that's the real question.

 

My current information suggests that he reason this is being brought up now, is that the USA wants an excuse to deploy its own weapons near the Russian border, to put pressure on the Russians. This is part of the USA strategy for Ukraine that was started, in traditional US style, by the engineering of the coup.

 

Business as usual

 

 

I brought us the test because it was reported in the UK Daily Mail yesterday and I saw no reference to a date of 2008.
 

[joepublic]

 

 

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

 

From current information, the US is claiming this violation happened in 2008. As yet, I've not seen them produce any evidence, but I've not yet seen the Russians deny it either.

 

But why bring this up now - that's the real question.

 

My current information suggests that he reason this is being brought up now, is that the USA wants an excuse to deploy its own weapons near the Russian border, to put pressure on the Russians. This is part of the USA strategy for Ukraine that was started, in traditional US style, by the engineering of the coup.

 

Business as usual

 

 

I brought us the test because it was reported in the UK Daily Mail yesterday and I saw no reference to a date of 2008.
 

 

 

Sorry, I meant why did the USA bring this up.

 

Regarding the alleged violation, the current lack of details (I cant find much also )seems to support the notion that the motives of the USA are not entirely benign.

[rethaier]

 

 

 

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

 

From current information, the US is claiming this violation happened in 2008. As yet, I've not seen them produce any evidence, but I've not yet seen the Russians deny it either.

 

But why bring this up now - that's the real question.

 

My current information suggests that he reason this is being brought up now, is that the USA wants an excuse to deploy its own weapons near the Russian border, to put pressure on the Russians. This is part of the USA strategy for Ukraine that was started, in traditional US style, by the engineering of the coup.

 

Business as usual

 

 

I brought us the test because it was reported in the UK Daily Mail yesterday and I saw no reference to a date of 2008.
 

 

 

Sorry, I meant why did the USA bring this up.

 

Regarding the alleged violation, the current lack of details (I cant find much also )seems to support the notion that the motives of the USA are not entirely benign.

 

 

I don't believe any of the motives of the US government since Kennedy ahve been benign.
 

[lovetotravel]

 

 

I don't believe any of the motives of the US government since Kennedy ahve been benign.
 

 

 

And which government do you believe?

[Loptr]

Sometimes sanctions work, sometimes they don't.   Sanctions should be an alternative to going to war.   War is instantaneous, sanctions may take a long time to work.   

 

 

 

Putin made the statement this week that war is coming to Europe... Draw your own conclusions... 

[rethaier]

 

 

 

I don't believe any of the motives of the US government since Kennedy ahve been benign.
 

 

 

And which government do you believe?

 

 

None of the ones with polititians or preachers.

[ravip]

Also, one can bully only a weaker person.

 

and

 

Let Him Who is Without Sin Cast the First Stone

[Publicus]

 

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

 

From current information, the US is claiming this violation happened in 2008. As yet, I've not seen them produce any evidence, but I've not yet seen the Russians deny it either.

 

But why bring this up now - that's the real question.

 

My current information suggests that he reason this is being brought up now, is that the USA wants an excuse to deploy its own weapons near the Russian border, to put pressure on the Russians. This is part of the USA strategy for Ukraine that was started, in traditional US style, by the engineering of the coup.

 

Business as usual

 

 

To the contrary, all this business is highly unusual.

 

Viktor Yanukovych had been elected president of Ukraine with the policy of orienting Ukraine to Europe, then reversed himself by refusing to sign the agreement along those lines he'd promised voters he'd sign. The outraged Ukraine population took to the streets to protest, then in increasing numbers to demand he resign, then to drive him out of his office attained by fraudulent political means. That the CIA was there from some point forward is also highly unusual in that part of the world.

 

The fact is the vast majority of the people of Ukraine want the rule of law, transparent government, freedom of speech and press/media, regular elections that are respected, economic and financial security, police they can trust to be professional and so much else absent in Russia.

 

The U.S. would gain nothing by a further escalation of military tensions, i.e., deploying its own weapons near the Russian border and Washington is well aware of the fact. Too many people who accuse the U.S. of wanting a war are in fact apologists of Putin and his mob in the Kremlin.

 

Sanctions are already having a direct impact as some $70 billion of capital has fled Russia this year and Russia withdrew $105 billion in U.S. Treasuries from custody of the U.S. Federal Reserve in anticipation of a possible freeze of U.S. assets of Putin's pals. The sanctions are sowing discord among Putin's oligarchs in the cabinet and throughout Moscow. Rumors of a putsch have begun to circulate.

 

Moscow business as usual.

[F430murci]

Chilax.  Sanctions were not as bad as Russia had feared and, as usual, the actual sanctions issued are rhetoric to appease those that want countries to get tough on Russia.  This is not going to bust anything out into WW3.  Everyone is grand standing as usual and the world will live on.

 

Interesting to note that the MICEX went completely off line for about 2 hours today.  Oops.  That is unusual . . .

 

----------

 

Trading in Russia's largest stock market was mysteriously interrupted on Wednesday for nearly two hours before resuming.

 

 

It's not clear what caused the trading halt, but the MICEX exchange apologized for the "inconvenience" and said the issue is "being investigated."

 

. . .

 

But Russian stocks reacted positively to the sanctions announcement, since they weren't as tough as investors had feared. The MICEX had been up 1.95% before trading was interrupted. The index trimmed its gains following the halt, recently trading about 1.2% in the green.

 

http://money.cnn.com/2014/07/30/investing/russia-trading-halt/index.html

Edited July 30, 2014 by F430murci

[Loptr]

Here we go again.  Putin just violated the nuclear missile test treaty, US and EU put on sanctions, what's next?  WWIII?

 

Yes, without a doubt... 

[lovetotravel]

Sanctions are hitting Russia very hard.  The average Russian is now starting to feel the pain.  The Rubl is down a bit, inflation is up, interest rates are up and money is flowing out of the country.

 

http://money.cnn.com/2014/07/25/news/economy/russia-economy/index.html?iid=EL

 

Very interesting graph showing European countries and their dependence on Russian energy.  No wonder they're hesitant to do anything! 5555

 

http://www.nytimes.com/2014/07/30/world/europe/as-sanctions-pile-up-russians-alarm-grows-over-putin-tactics.html

[Scott]

Posts deleted.  

[Publicus]

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.

 

Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.

 

The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  

 

The Europeans are just not screwing around this time.

 

The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.

 

US and Europe hit Russia with toughest sanctions yet

 

"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."

 

Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.

 

EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.

 

http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA

 

 

Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.

 

The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

Edited July 31, 2014 by Publicus

[F430murci]

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.
 
Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.
 
The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  
 
The Europeans are just not screwing around this time.
 
The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.
 
US and Europe hit Russia with toughest sanctions yet
 
"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."
 
Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.
 
EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.
 
http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA
 
 
Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.
 
The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

Where are you getting the Russian stocks fell 10% since the latest round of sanctions? MICEX has had gains the last 3 days or since latest round of sanctions

The below is an article from today.

---------

Russian stocks gained for a third day as OAO Magnit advanced and some investors saw U.S. and European Union sanctions as milder than anticipated.

http://mobile.bloomberg.com/news/2014-07-31/russia-stocks-gain-3rd-day-to-trim-monthly-drop-as-magnit-rises.html

[Publicus]

 

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.
 
Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.
 
The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  
 
The Europeans are just not screwing around this time.
 
The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.
 
US and Europe hit Russia with toughest sanctions yet
 
"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."
 
Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.
 
EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.
 
http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA
 
 
Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.
 
The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

Where are you getting the Russian stocks fell 10% since the latest round of sanctions? MICEX has had gains the last 3 days or since latest round of sanctions

The below is an article from today.

---------

Russian stocks gained for a third day as OAO Magnit advanced and some investors saw U.S. and European Union sanctions as milder than anticipated.

http://mobile.bloomberg.com/news/2014-07-31/russia-stocks-gain-3rd-day-to-trim-monthly-drop-as-magnit-rises.html

 

 

Down 10% this year accelerated by the crap in Ukraine and the U.S. sanctions, the shooting down of the passenger airliner, then the U.S. and Europe sanctions. The past few daze / days Putin's pals have been propping thing up and the central bank is promising to help the sanctioned banks and institutions.

[F430murci]

 

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.
 
Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.
 
The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  
 
The Europeans are just not screwing around this time.
 
The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.
 
US and Europe hit Russia with toughest sanctions yet
 
"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."
 
Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.
 
EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.
 
http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA
 
 
Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.
 
The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

Where are you getting the Russian stocks fell 10% since the latest round of sanctions? MICEX has had gains the last 3 days or since latest round of sanctions

The below is an article from today.

---------

Russian stocks gained for a third day as OAO Magnit advanced and some investors saw U.S. and European Union sanctions as milder than anticipated.

http://mobile.bloomberg.com/news/2014-07-31/russia-stocks-gain-3rd-day-to-trim-monthly-drop-as-magnit-rises.html
 

 
Down 10% this year accelerated by the crap in Ukraine and the U.S. sanctions, the shooting down of the passenger airliner, then the U.S. and Europe sanctions. The past few daze / days Putin's pals have been propping thing up and the central bank is promising to help the sanctioned banks and institutions.

I get Russian economic problems and in April and May provided an in depth analysis of Russian's economic conditions, undeying rescession and what US could actually do if US was actually sincere about accelerating Russiam's rescession. Obama has not done this and has instead chosen hollow sanctions which provide only the impression that he is doing something.

I took issue with you trying to imply by your post that the latest round of sanctions has caused a 10% drop in Russian stocks. The MICEX is actually up now (1383) from its March 2014 levels (1247) and since the US began imposing sanctions.

[Harsh Jones]

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.

 

Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.

 

The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  

 

The Europeans are just not screwing around this time.

 

The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.

 

US and Europe hit Russia with toughest sanctions yet

 

"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."

 

Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.

 

EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.

 

http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA

 

 

Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.

 

The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

 

It is not Putin that has sh*t the bed. It is the US. Since Putin dumped so many treasuires after the first round of saanctions, the US had to create this phantom proxy buyer in Belgium to make up the diffrence.

 

US phantom proxy buyer ? Or did Belgium all of a sudden, discover and bring a few billion barrels of oil  to market ? You decide.

 

 

[Harsh Jones]

 

 

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.
 
Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.
 
The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  
 
The Europeans are just not screwing around this time.
 
The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.
 
US and Europe hit Russia with toughest sanctions yet
 
"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."
 
Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.
 
EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.
 
http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA
 
 
Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.
 
The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

Where are you getting the Russian stocks fell 10% since the latest round of sanctions? MICEX has had gains the last 3 days or since latest round of sanctions

The below is an article from today.

---------

Russian stocks gained for a third day as OAO Magnit advanced and some investors saw U.S. and European Union sanctions as milder than anticipated.

http://mobile.bloomberg.com/news/2014-07-31/russia-stocks-gain-3rd-day-to-trim-monthly-drop-as-magnit-rises.html

 

 

Down 10% this year accelerated by the crap in Ukraine and the U.S. sanctions, the shooting down of the passenger airliner, then the U.S. and Europe sanctions. The past few daze / days Putin's pals have been propping thing up and the central bank is promising to help the sanctioned banks and institutions.

 

 

 

, the shooting down of the passenger airliner

 

There has been no direct evidence to even implicate Russian seperatists in that. Nevermind Russia itself. Plus it was the Washington coup that started it all

How much bite is in these so called sanctions ?

 

 

France to deliver Mistral warship to Russia despite US, UK criticism

"France's word, its signature, must be respected," Xavier Bertrand, a former minister under Sarkozy and senior member of his conservative opposition UMP party, told France Inter radio. "Just because the Americans say 'jump' we shouldn't jump."
 

[h90]

The Europeans have joined the U.S. in some pretty tough sanctions which are reverberating throughout the Russian economy.

 

Russian stocks fell 10% to an 11-week low, Rosneft shares and bonds fell.

 

The new sanctions by the U.S. and Europe add to grief delivered to Moscow by a court in the Hague that earlier this week ruled Russia must compensate the former owners of Yukos oil company $50 billion, which also which means Rosneft oil will be sued next in the Hague by Russian investors so Rosneft shares and value are also falling hard.  

 

The Europeans are just not screwing around this time.

 

The Russian economy is verging on recession which very likely means a recession is now virtually inevitable.

 

US and Europe hit Russia with toughest sanctions yet

 

"The decision today was inevitable," German Chancellor Angela Merkel said, urging the Russian leadership to "pursue the path of de-escalation and cooperation."

 

Europe's sanctions will notably make it tougher for Russian state-owned banks to access European financial markets, forcing their costs higher and hobbling an already struggling economy.

 

EU ambassadors also agreed to impose asset freezes and visa bans on four close Putin business associates, the first time the bloc has targeted such figures.

 

http://news.yahoo.com/rebels-claim-kiev-now-controls-part-mh17-202130990.html;_ylt=A0SO8wSRINpTQ0QAKeBXNyoA

 

 

Visa and Master Card have stopped servicing four of Russia's five largest banks and the capital markets in both the U.S. and Europe are virtually closed now to Russia.

 

The bluster from some people around here that Russia will demand energy payments in Rubles, RMB or in gold and will bust the USD is a lot of hot air. Putin this time has sh*t the bed.

 

But the Russian population is used to problems, the European far less. Spanish, French, Italian economic looks bad. If they go down further they may drag down Germany as well. Than Europe and Russia collapse together.