Ukraine should be ready for a complete break in trade relations with Russia, as it’s impossible to just stand by when Western countries impose sanctions against Russia, Ukrainian Prime Minister Arseniy Yatsenyuk said on Friday
We are not going to see much action from the EU; they will try to get away with least as possible without really upsetting the White House, Richard Wellings, Deputy Editorial Director at the Institute of Economic Affairs, told RT.
Australia wants Western countries to continue cooperating with Russia within the G20 framework, Prime Minister Tony Abbott said on the sidelines of the B20 summit, after the US and EU agreed new sanctions on Russia.
EU leaders may impose a new round of sanctions against Russia at Wednesday’s summit, including blocking trade and investment in Russia and Crimea, according to media sources that have obtained a copy of a draft statement.
There is a huge risk for the EU that Russia continues its pivot process that is already seen in terms of oil and gas pipelines and general trade as Russia switched to China, South Korea and Japan, expert on global financial markets Patrick Young told RT.
France, Germany, and Italy are among EU members who don’t want to follow the US lead and impose trade sanctions on Russia. US sanctions are seen as a push to promote its own multibillion free-trade pact with Europe.
The West is now starting to move to its final decay, with the Russia-China alliance becoming stronger, offering Latin America and other regions a multipolar model of the world, author and international consultant Adrian Salbuchi told RT.
The US mixes trade with politics using the dollar as a weapon in sanctions against Iran and Russia, trying to restrict these nations’ access to the US dollar, which creates mass imbalances, Chairman of the Bruges Group think tank, Robert Oulds, told RT.