Connect with us

Hi, what are you looking for?

Jewish Business News

World News

Can Europe Punish Russia Without Punishing Itself?

France's economic minister,   Emmanuel Macron/ getty


After the Russian annexation of Crimea and amid ongoing tensions with the Ukraine, Europe and the United States imposed sanctions, but the sanctions seem to be hurting Europe almost as much as they are burdening the Russian economy. There is pressure on Europeans to come to some sort of agreement with Russia to blunt the harsh effects on the European economy, while still maintaining its punitive stance against Russia. How to do that is an enormously difficult puzzle.

True, the sanctions are taking their effect, but the Russian economy and the ruble’s plunge seems as affected by plunging oil prices as it is by sanctions. It is possible that many Russians blame oil rather than sanctions, and the economic woes may not be felt as a punishment. Meanwhile, the European economy is sluggish and companies that do business with Russia are struggling.

France’s economic minister, Emmanuel Macron, told the AP that Europe should continue to put pressure on Russia to ease its tensions with the Ukraine independent of sanctions which are chipping away at the European economy. However, Macron added this can’t be done without a change on the Russian side. Meanwhile, many EU ministers are staunchly opposed to abandoning sanctions. France, Germany, Russia and the Ukraine are planning to set up talks in Astana, Kazakhstan to come up with a compromise.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


Now Platika joins and elite club of $10 billion plus Israeli firms.

cialis cialis satış