Western sanctions might push Russia to deepen cooperation with BRICS states, in particular, to strengthen its ties with China, which will possibly turn out to be a big catastrophe for the US and the EU some time later.
Should economic sanctions be extended against Russia, more than 6,000 German exporters doing business with Russia would suffer, the Federation of German Wholesale, Foreign Trade and Services (BGA)warned on Friday.
Chinese authorities have turned out to be at the crossroads with no clear strategy regarding the Ukrainian crisis, as any definite stance would have a negative impact on relations with one of its main partners.
An ‘enormous gulf’ has been exposed between the EU and the US through Europe’s reluctance to buy hormone meat or GM food from the US. Industry and labor groups voiced concern to EU and US negotiators that the globe’s biggest trade pact was under threat.
Starting April 1, Gazprom will no longer offer Ukraine discounted gas prices because it is more than a year and $1.5 billion late on their debt payments to Russia’s largest gas producer for deliveries, Russian President Vladimir Putin said Tuesday.
Britain’s tax authority is to stop charging value-added tax (VAT) on Bitcoin transactions. It's just a couple of days after one of the world’s biggest exchanges Mt. Gox collapsed, which has added to growing worldwide skepticism about the currency.