Russian Embargo

[_ronzlo_]

Starting with most all foods...

http://www.bbc.com/news/world-europe-28687172

http://www.dw.de/russia-announces-full- ... a-17838717

http://en.ria.ru/business/20140807/1918 ... bargo.html

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What next?

[nousd]

our PM big-noted himself
& now our farmers have lost $350 million of exports to Russia

[SignalRecon]

This Ukraine hype has been really solid so far. I'm PVR'ing this entire season guaranteed.

[NickUndercover]

I think it's fair tbh. Those Ukraine sanctions were political moves, to give Ukraine the signal that EU doors are open.

And they had to expect something like this...

[topmo3]

in finland we have 2 tabloids similar to the sun in britain, who compete with each other about who has the most appealing headlines (usually war, the weather, different type of diets, danger and strife or boobies) and one of them had a headline yesterday saying "Russia will attack: According to experts, this is Putin's secret scheme" but basically they've been proclaiming russia attacking every now and then for a while now so i wouldn't be too worried..

also 70% of finlands foreign trade goes to russia so if there's really gonna be a total embargo my country's economics r royally fucked

[rockonin]

Fair play imo

[Harkat]

last time russia invaded finland the finns invented the molotov cocktail

wonder what sick weapon we'll get this time around.

[faultier]

Putin has sought to lure Ukraine and its more than 40 million people into the alliance to build a trading bloc to rival the EU. Yanukovych pursued closer ties with the customs union and pulled out of an association agreement with the EU before his ouster in February. His successor, President Petro Poroshenko, signed the free-trade accord with the 28-nation bloc in June.



Russia can’t go it alone against the U.S. and must create an “anti-war coalition” to check the “aggressor,” Glazyev said.



“The point of a series of regional wars organized by the Americans, especially today’s catastrophe in Ukraine, centers on the U.S. securing control over all of north Eurasia” to bolster “its position against China,” Glazyev said. “That’s how the U.S. military and oligarchs are trying to maintain leadership in the global competition with China.”



The effort will backfire, said Glazyev, who spoke before a round of retaliatory steps announced by Russia yesterday banning food and agricultural products for one year from the U.S., the EU, Norway, Canada and Australia. The U.S.-led “economic war” against Russia will ricochet, leaving the EU to pay the steepest costs in the conflict, he said.



The trading bloc stands to lose about 1 trillion euros ($1.3 trillion), an estimate he says includes the possible bankruptcy of several European banks and companies toppled after the cutoff in financial and economic ties. An energy crisis in Europe will bring a sharp spike in prices and a loss of competitiveness for European producers. Meanwhile, Turkish, Chinese and east Asian nations will fill the void left by the departure of their European rivals from the Russian market.



The fallout will cost 250 billion euros for Germany alone while pushing the three Baltic states to the brink of an “economic catastrophe,” he said. Lithuania and Latvia will lose the equivalent of half of their entire economic output, and the cost for Estonia will reach 50 percent more than its gross domestic product, Glazyev said.

Where does that leave Russia?

“Task no. 1 is to block those threats to economic security that are now coming from the U.S., neutralize them by reducing the dependence of our external economic activity on the mercy of American politicians, whose aggressiveness threatens the entire world,” he said.

Glazyev's conclusion:

To further insulate its economy, Russia should abandon the use of the U.S. dollar as a reserve currency, according to Glazyev. Russia, which international reserves are the world’s fifth-biggest, needs to diversify its holdings to include China’s yuan, India’s rupee and Brazil’s real. “If a country aspires to reserve status for its currency, it should behave properly, and that isn’t the case today,” Glazyev said.

full article: http://www.bloomberg.com/news/2014-08-0 ... raine.html