U.S and Russia Sanctions tit for tat Over Crimea Crisis
Mark Landler of the New York Times wrote the article I read
on March 20th. In response to
President Obama’s threat by posing economic sanctions on Russia, President
Vladamir Putin responded by preventing nine high ranking American officials
including speaker of the house John Boenher and Senator John McCain from
entering the country. This comes at an inopportune time for the recent Olympic
host. Russia had just recently spotted a
fifty billion dollar tab for the Winter Olympics. Obviously they were under the
impression that their investment would be returned through a stimulated economy
and through newly inspired tourists, but I find it hard to believe that Russia
will enjoy either of the two. These sanctions are going to severely limit any
potential economic growth that the aggressor was looking forward to.
http://www.nytimes.com/2014/03/21/us/politics/us-expanding-sanctions-against-russia-over-ukraine.html?ref=business&_r=0
You are certainly correct. All of the money that Russia made on the 2014 Winter Games they have lost. They lost it within the first week of taking over Russia. Furthermore, their economy continues to take a dive as we and the EU impose sanctions on Russia and Russia continues to increase its spending on their military efforts and take-over of Ukraine. How do you think this will affect the economies of the eurozone and the US? Perhaps on other major trading partners of those two as well?
ReplyDeleteI would say I agree with both of you. The winter Olympics did not create the economic growth that the Russians had anticipated. Putin's actions banning certain American officials from entering Russia is an act for attention in my opinion, it certainly isn't going to solve any of their problems. With cost of production being as high as they currently are in Russia, as well as excessive military spending, indicates that Russia economic future may not be very bright.
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