German 'foreign policy experts' call for demand new EU sanctions against Russia after it's 'open war'/'undeclared war' against Ukraine. One chairs the foreign relation council of the Bundestag, the other one is the assistent head of the CDU/CSU. The former something I have been writing for a long time...
(In this case and others I should add, which doesn't mean that in other occasions the current approach is wrong)Weakness of the Wester World is not de-escalating
New sanctions against Russia could hit, depending on their quality and quantity, an already shrinking Russian economy hard. Especially if the retaliation is as stupid as it was the last time. Bloomberg has a good update on the situation. I would personally put the likelyhood of a recession far higher and indeed think that we are already in one with the second quarter getting adjusted downwards.
The guys at the Russian Central Bank and quite a few others in the respective ministries have tried hard but has been obvious for a while that the big shots are called in Putin's inner circle. One of the biggest fears seems to be a budget deficit for which most of those 'creative' moves were exectuted. I highly doubt that we will see a stimulus for the very weak economy as it would counteract that fear in the short term.“After the last round of sanctions and somewhat unexpectedly harsh Russian retaliation, which is going to hurt it more than the Western countries, it is becoming obvious that economic reasoning was not found in Russian policy makers’ toolkit,” Nerijus Maciulis, chief economist at Swedbank Lithuania in Vilnius, said by e-mail.
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