Ukraine has signed the European Trade Association Agreement, the document that sent the country into a political frenzy when not signed eight months ago to this day. RT gives you the basics on how this will affect the economy of both from here on out.
A Chinese idea of creating two New Silk Roads could be a big boom for a lot of people who live along the Silk Road route, and obviously all the countries at both ends of it, China expert Ann Lee told RT.
Two top US business lobbies plan to run newspaper adverts warning that more Russian sanctions risk harming US workers and businesses. The trade associations warn that economic sanctions will translate into huge damages from lost trade with Russia.
“For Ukraine, signing the agreement is economic suicide,” Sergey Glazyev, an economic aide to Russian President Putin said, warning of a sharp currency devaluation, soaring inflation, and lower living standards.
The US Commerce Department has given the go-ahead to several companies to export crude oil, a big policy change essentially ending a ban in place for the last four decades. At question is whether the end of the ban will mean higher prices at the pump.
The head of the Crimean government has stressed rejoining Russia is irreversible. Sergey Aksyonov said an EU ban on imports from Crimea and Sevastopol deprives Europe of a market and it must “realise that the regime of pressure leads to nothing good.”
The EU became the world's biggest exporter of agricultural foodstuffs in 2013. Goods worth $163 billion left the EU, beating the US figure of $156 billion. Sales were driven by record exports to China and other emerging markets.