The full-scale financial crisis in Russia erupted in August 1998 made a blow to the President Lukashenko domestic and foreign policy. However, a year-by-year worsening of the domestic economy due to maintaining a system of command economy led to a crisis in Belarus already in the first quarter of 1998. The crisis in Russian spilling over through trade channel only additionally aggravated economic situation in Belarus. The paper briefly characterizes the economic system in Belarus prior to the first quarter of 1998 and then analyzes consequences of the Russian financial crisis on the Belarussian economy.
Authored by: Rafal Antczak, Stanislav Bogdankiewich, Pavel Daneiko, Krzysztof Polomski, Vladymir Usowski
Published in 2000
Youri Smakouz, Associate Director at Risk Advisory Group Russia, Eastern Europe and Eurasia, gave a general political and economic overview of the current Ukraine-related sanctions and concluded by expanding on their impact on the Russian economy and its investment climate.
Oleg Babinov, Head of Risk Advisory Group Russia, Eastern Europe and Eurasia, continued the presentation, giving an evaluation of prospects and predicting the most likely future scenarios for the current sanctions regime.
Reciprocal trade sanctions by Russia and the EU should not last longer than 3 months, as both economies will feel they can’t afford that, according to experts from Denmark’s largest bank, Danske Bank.
mediados de febrero, justo antes de la invasión rusa de Ucrania, la evolución de las principales
variables macroeconómicas permitían hablar de recuperación. La remisión de la pandemia, los esfuerzos
de vacunación, las políticas económicas expansivas y las condiciones financieras favorables justificaban
la previsión del FMI de enero de un crecimiento global del PIB del 4,4% en 2022 y del 3,8% en 2023. Sin
embargo, se apuntaba el riesgo por las presiones inflacionistas alimentadas por el aumento de los
precios energéticos y de otras materias primas ante la recuperación de la demanda y la concurrencia de
restricciones en la oferta.
El conflicto bélico supone un nuevo golpe para la economía global y genera un cambio cualitativo en la
situación geopolítica incrementando la incertidumbre. Si bien el peso de Rusia y Ucrania en el PIB, el
comercio o los mercados financieros mundiales es reducido*, ambos concentran un porcentaje
importante de las exportaciones globales de petróleo, gas, trigo, maíz y de metales como el paladio o el
níquel. Según la OCDE, el alza de los precios de las materias primas y los movimientos en los mercados
financieros pueden detraer 1 pp al PIB global en el primer año e incrementar la inflación en torno a 2,5 pp.
The full-scale financial crisis in Russia erupted in August 1998 made a blow to the President Lukashenko domestic and foreign policy. However, a year-by-year worsening of the domestic economy due to maintaining a system of command economy led to a crisis in Belarus already in the first quarter of 1998. The crisis in Russian spilling over through trade channel only additionally aggravated economic situation in Belarus. The paper briefly characterizes the economic system in Belarus prior to the first quarter of 1998 and then analyzes consequences of the Russian financial crisis on the Belarussian economy.
Authored by: Rafal Antczak, Stanislav Bogdankiewich, Pavel Daneiko, Krzysztof Polomski, Vladymir Usowski
Published in 2000
Youri Smakouz, Associate Director at Risk Advisory Group Russia, Eastern Europe and Eurasia, gave a general political and economic overview of the current Ukraine-related sanctions and concluded by expanding on their impact on the Russian economy and its investment climate.
Oleg Babinov, Head of Risk Advisory Group Russia, Eastern Europe and Eurasia, continued the presentation, giving an evaluation of prospects and predicting the most likely future scenarios for the current sanctions regime.
Reciprocal trade sanctions by Russia and the EU should not last longer than 3 months, as both economies will feel they can’t afford that, according to experts from Denmark’s largest bank, Danske Bank.
mediados de febrero, justo antes de la invasión rusa de Ucrania, la evolución de las principales
variables macroeconómicas permitían hablar de recuperación. La remisión de la pandemia, los esfuerzos
de vacunación, las políticas económicas expansivas y las condiciones financieras favorables justificaban
la previsión del FMI de enero de un crecimiento global del PIB del 4,4% en 2022 y del 3,8% en 2023. Sin
embargo, se apuntaba el riesgo por las presiones inflacionistas alimentadas por el aumento de los
precios energéticos y de otras materias primas ante la recuperación de la demanda y la concurrencia de
restricciones en la oferta.
El conflicto bélico supone un nuevo golpe para la economía global y genera un cambio cualitativo en la
situación geopolítica incrementando la incertidumbre. Si bien el peso de Rusia y Ucrania en el PIB, el
comercio o los mercados financieros mundiales es reducido*, ambos concentran un porcentaje
importante de las exportaciones globales de petróleo, gas, trigo, maíz y de metales como el paladio o el
níquel. Según la OCDE, el alza de los precios de las materias primas y los movimientos en los mercados
financieros pueden detraer 1 pp al PIB global en el primer año e incrementar la inflación en torno a 2,5 pp.
Drawing on data sources such as the Grant Thornton IBR, the EIU and the IMF, this report considers the outlook for the economy, including the growth expectations of 400 businesses interviewed in Russia, and more than 12,500 globally.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
D&B Briefing: The Economic & Political Situation in the Ukraine | 3/17/14Dun & Bradstreet
D&B has downgraded Ukraine’s country risk rating to DB6c (in our "very high risk" category) from its already poor score of DB6b (on a scale of 1-7, with 7 being the highest possible level of operational risk). The downgrade stems from the significant recent deterioration in the country’s business operating environment. This article gives more insight into the current situation in Ukraine and why their risk rating was downgraded.
Russian Problem Outweighs China Export RiskBloomberg LP
The slowdown in the global economy is curtailing export growth in the euro area. Still the biggest hit may have come already from the downturn in Russia.
The 2014–15 Russian Financial Crisis and the associated shrinking of the Russian economy is the result of the collapse of the Russian ruble beginning in the second half of 2014.The lack of confidence in the Russian economy stemmed from at least two major sources. The first is the fall in the price of oil in 2014. Crude oil, a major export of Russia, declined in price by nearly 50% between its yearly high in June 2014 and 16 December 2014.
On September 2015, Russian Gazprom and list of European energy giants announced an agreement on further constructing of the Nord Stream 2 (NS 2) – another one gas pipeline from Russia under the Baltic Sea landing in Germany. At once it became clear, that constructing the pipeline is a kind of a threat for Ukraine who now is a crucial important gas transporter from Russia to the European Union (EU) member states and thereafter would undermine Ukrainian positions bringing economic losses, political and security threats .
From Ukrainian prospective the Nord Stream 2 is treated as a mostly politically driven project, at somehow aimed against Ukraine, which will also increase dependence of the EU states on Russian gas, and consequently make those more vulnerable to Russia’s policy in future. Such arguments are widely used by Ukrainian politicians and in official statements.
However, such perception does not take into consideration arguments and befits of those EU member states, who support the project and current internal political conditions. At final extent, such approach brings to a kind of misunderstanding between supporters and opponents of the Nord Stream 2 construction and achieving of the Ukrainian aim is rather questionable.
Nord Stream 2 problem in general consist of two dimensions: economic and political. Those are at somehow contradictory for the project’s actors. The first one is based on benefits that some countries (first of all Russia and certain EU member states) expect to gain with the NS 2 project. The political one is in the domain contradiction of supporting Russia in its energy business during its violating of the international law, threats for Ukraine and its concerns regarding loosing gas supply interdependence with the EU. Current ways and attempts to impact on the NS 2 development do not manage to bundle both those dimensions to find a solution that will acceptable for all parties involved in all developments and outcome related to construction and future operation of the NS 2 pipeline.
Future of the Nord Stream 2 is not clear yet and this means necessity for Ukraine to continue taking steps aimed on protecting its own position. This paper aims to describe main drivers and benefits for parties, involved in supporting the NS 2 comparing to Ukrainian perceptions and official statement on this matter.
However, NS 2 is not a unique threat for Ukrainian gas transit capabilities and corresponding resulting benefits. This drives not only necessity of efforts to cope with the NS 2, but also strengthening Ukrainian gas transit capabilities and energy security in general. Authors offered (Final remarks chapter) for Ukraine and its main ally in energy security – US actions frameworks to contain Russia regarding the NS 2 project, strengthen and secure Ukraine
The impact of the sanctions on the economy of the Russian FederationIgor Britchenko
The article analyses the impact of the sanctions of civilized countries on the Russian economy. Particular attention is paid to sectoral sanctions on the markets of oil and oil products, in the banking and financial sectors, as well as on the market of transport services. The authors analysed the prospects for expanding sanctions on the oil market for Russia in the context of setting a maximum price for the export of Russian oil by the main buyers. Conclusions are drawn not only about the impact of sanctions on Russian oil production, but also about a possible decrease in prices for oil and other energy resources in the region. The authors positively assessed the US and EU anti-Russian sanctions in the financial sector. The impact of sanctions on the Russian banking system, insurance, and stock markets was studied. Particular attention was paid to the impact of disconnecting the banking system of the Russian Federation from the international payment system SWIFT. The authors also focused on the gradual division of the Russian economy under the influence of sanctions and trends in the energy market into the energy sector and the rest. It was found that the most affected by the sanctions were air transportation, mechanical engineering, and ferrous metallurgy sectors. Conclusions are drawn about the need to continue sanctions pressure on the Russian economy. High energy prices during the 200 days of the war with Ukraine allowed the Russian Federation to subsidize economic sectors that suffered from the war at the expense of the energy sector. A market reduction of the oil prices or their correction with the help of the sanctions policy should cause significant and irreversible damage to the Russian economy.
Consensus against all odds: explaining the persistence of EU sanctions on RussiaPaulina Pospieszna
In response to Russia’s actions in Ukraine in 2014, the EU introduced
sanctions on Moscow. Despite increasing polarisation among member
states after imposition, the sanctions package was consistently
renewed. How can sanctions persistence be explained? While scholarly
accounts highlight German leadership, commitment to norms,
and policymakers’ engagement, the EU’s ability to uphold the
sanctions in the face of uneven support among member states
remains puzzling. With the help of a two-level game framework,
according to which actors make decisions based on the interplay
between the domestic and international levels, we argue that the
interaction between the Council and domestic politics helped sustaining
the consensus. To illustrate this dynamic, in an exploration
of domestic factions in Spain and Poland, two member states
displaying opposite attitudes towards Russia, we identify the presence
of at least one actor whose preference deviates from the core,
thereby facilitating consensus.
- When will Russia run out of money for the war in Ukraine and Europe?
- Is the world doing enough to help Ukraine?
- What is needed from the world NOW?
Drawing on data sources such as the Grant Thornton IBR, the EIU and the IMF, this report considers the outlook for the economy, including the growth expectations of 400 businesses interviewed in Russia, and more than 12,500 globally.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
D&B Briefing: The Economic & Political Situation in the Ukraine | 3/17/14Dun & Bradstreet
D&B has downgraded Ukraine’s country risk rating to DB6c (in our "very high risk" category) from its already poor score of DB6b (on a scale of 1-7, with 7 being the highest possible level of operational risk). The downgrade stems from the significant recent deterioration in the country’s business operating environment. This article gives more insight into the current situation in Ukraine and why their risk rating was downgraded.
Russian Problem Outweighs China Export RiskBloomberg LP
The slowdown in the global economy is curtailing export growth in the euro area. Still the biggest hit may have come already from the downturn in Russia.
The 2014–15 Russian Financial Crisis and the associated shrinking of the Russian economy is the result of the collapse of the Russian ruble beginning in the second half of 2014.The lack of confidence in the Russian economy stemmed from at least two major sources. The first is the fall in the price of oil in 2014. Crude oil, a major export of Russia, declined in price by nearly 50% between its yearly high in June 2014 and 16 December 2014.
On September 2015, Russian Gazprom and list of European energy giants announced an agreement on further constructing of the Nord Stream 2 (NS 2) – another one gas pipeline from Russia under the Baltic Sea landing in Germany. At once it became clear, that constructing the pipeline is a kind of a threat for Ukraine who now is a crucial important gas transporter from Russia to the European Union (EU) member states and thereafter would undermine Ukrainian positions bringing economic losses, political and security threats .
From Ukrainian prospective the Nord Stream 2 is treated as a mostly politically driven project, at somehow aimed against Ukraine, which will also increase dependence of the EU states on Russian gas, and consequently make those more vulnerable to Russia’s policy in future. Such arguments are widely used by Ukrainian politicians and in official statements.
However, such perception does not take into consideration arguments and befits of those EU member states, who support the project and current internal political conditions. At final extent, such approach brings to a kind of misunderstanding between supporters and opponents of the Nord Stream 2 construction and achieving of the Ukrainian aim is rather questionable.
Nord Stream 2 problem in general consist of two dimensions: economic and political. Those are at somehow contradictory for the project’s actors. The first one is based on benefits that some countries (first of all Russia and certain EU member states) expect to gain with the NS 2 project. The political one is in the domain contradiction of supporting Russia in its energy business during its violating of the international law, threats for Ukraine and its concerns regarding loosing gas supply interdependence with the EU. Current ways and attempts to impact on the NS 2 development do not manage to bundle both those dimensions to find a solution that will acceptable for all parties involved in all developments and outcome related to construction and future operation of the NS 2 pipeline.
Future of the Nord Stream 2 is not clear yet and this means necessity for Ukraine to continue taking steps aimed on protecting its own position. This paper aims to describe main drivers and benefits for parties, involved in supporting the NS 2 comparing to Ukrainian perceptions and official statement on this matter.
However, NS 2 is not a unique threat for Ukrainian gas transit capabilities and corresponding resulting benefits. This drives not only necessity of efforts to cope with the NS 2, but also strengthening Ukrainian gas transit capabilities and energy security in general. Authors offered (Final remarks chapter) for Ukraine and its main ally in energy security – US actions frameworks to contain Russia regarding the NS 2 project, strengthen and secure Ukraine
The impact of the sanctions on the economy of the Russian FederationIgor Britchenko
The article analyses the impact of the sanctions of civilized countries on the Russian economy. Particular attention is paid to sectoral sanctions on the markets of oil and oil products, in the banking and financial sectors, as well as on the market of transport services. The authors analysed the prospects for expanding sanctions on the oil market for Russia in the context of setting a maximum price for the export of Russian oil by the main buyers. Conclusions are drawn not only about the impact of sanctions on Russian oil production, but also about a possible decrease in prices for oil and other energy resources in the region. The authors positively assessed the US and EU anti-Russian sanctions in the financial sector. The impact of sanctions on the Russian banking system, insurance, and stock markets was studied. Particular attention was paid to the impact of disconnecting the banking system of the Russian Federation from the international payment system SWIFT. The authors also focused on the gradual division of the Russian economy under the influence of sanctions and trends in the energy market into the energy sector and the rest. It was found that the most affected by the sanctions were air transportation, mechanical engineering, and ferrous metallurgy sectors. Conclusions are drawn about the need to continue sanctions pressure on the Russian economy. High energy prices during the 200 days of the war with Ukraine allowed the Russian Federation to subsidize economic sectors that suffered from the war at the expense of the energy sector. A market reduction of the oil prices or their correction with the help of the sanctions policy should cause significant and irreversible damage to the Russian economy.
Consensus against all odds: explaining the persistence of EU sanctions on RussiaPaulina Pospieszna
In response to Russia’s actions in Ukraine in 2014, the EU introduced
sanctions on Moscow. Despite increasing polarisation among member
states after imposition, the sanctions package was consistently
renewed. How can sanctions persistence be explained? While scholarly
accounts highlight German leadership, commitment to norms,
and policymakers’ engagement, the EU’s ability to uphold the
sanctions in the face of uneven support among member states
remains puzzling. With the help of a two-level game framework,
according to which actors make decisions based on the interplay
between the domestic and international levels, we argue that the
interaction between the Council and domestic politics helped sustaining
the consensus. To illustrate this dynamic, in an exploration
of domestic factions in Spain and Poland, two member states
displaying opposite attitudes towards Russia, we identify the presence
of at least one actor whose preference deviates from the core,
thereby facilitating consensus.
- When will Russia run out of money for the war in Ukraine and Europe?
- Is the world doing enough to help Ukraine?
- What is needed from the world NOW?
As the ‘sanctions war’ heats up, Will Putin Play his gold card ?GE 94
The topic of ‘currency war’ has been bantered about in financial circles since at least the term was
first used by Brazilian Finance Minister Guido Mantega in September 2010. Recently, the currency
war has escalated, and a ‘sanctions war ’ against Russia has broken out. History suggests that
financial assets are highly unlikely to preserve investors’ real purchasing power in this inhospitable
international environment, due in part to the associated currency crises, which will catalyse at least
a partial international remonetisation of gold. Vladimir Putin, under pressure from economic
sanctions, may calculate that now is the time to play his ‘gold card ’.
THE WAR IN UKRAINE AND THE END OF CONTEMPORARY GLOBALIZATIONFernando Alcoforado
This article aims to demonstrate that the war in Ukraine can lead to the end of contemporary globalization and the advent of a new international order. The adoption by the United States, the European Union, the United Kingdom and other countries of economic and financial sanctions against Russia with the purpose of suffocating the Russian economy signals that any country in the world that does not subordinate itself to the impositions of the great capitalist world powers could face the same penalties as those carried out for the first time in history against Russia. This episode can make each nation reduce its economic and financial exchange with the outside and seek its economic self-sufficiency to avoid suffering the harmful consequences of the concerted action of the great Western powers if the country does not subordinate to its interests. Economic self-sufficiency is the condition for no nation to be asphyxiated by the power of the great Western powers as was the Russia case. Under these circumstances, all countries would seek to trade with the rest of the world without becoming extremely dependent on foreign countries, as is currently the case with the process of economic and financial globalization. This calls into question the contemporary globalization process that began in the 1990s, which was adopted to integrate world markets and received the support of most countries in the world, including Russia and China.
Macroeconomic Developments Report. March 2022Latvijas Banka
Based on data from Latvijas Banka, Central Statistical Bureau of Latvia, Ministry of Finance, and Financial and Capital Market Commission, this publication assesses developments of the external sector and exports, financial market, domestic demand and supply, prices and costs, and balance of payments, and provides forecasts for the economic development and inflation.
Similar to Is a New Cold War Behind The Corner (20)
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
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Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
Webinar Exploring DORA for Fintechs - Simont Braun
Is a New Cold War Behind The Corner
1. International Economics
Is a new “Cold war“ behind the corner?
Professors Name: Prof. Ing. Dittrich
Student Names:
Makarava Nastassia, Sindhav Arjun, Pavlova Anastasia,
Peresypkina Maria, Imanov Ali, Ajmeri Juber, Bala Pushpen
2. *Introduction & Overview
*The Role of Russia in the World Economy
*Trade relations between EU and Russia, USA and Russia
*Sanctions imposed by EU on Russia
*Sanctions imposed by USA on Russia
*Impacts of sanctions on Russia
*Conclusion
*References
3. *
*The relationship between USA, EU and Russia
*USA and the EU based on common strategic interests
*Increased tensions & pressure in relationship due to:
-geopolitical rivals,
-penalties,
-restrictive political negotiations and
-economic measures
-embargos
4. *
*Russia Crisis (1992-1998)
*The economy got heavy blow as a result Russian Ruble
devalued,
*significant decline in production and living standards.
*sharp jump in inflation.
Post-crisis was soon overcome by way to large-scale growth.
*A significant role in this growth played a change in the
macroeconomic policy of the Russian authorities, occurred
after the change of composition of the government and the
Central Bank.
5. Russia in World Crisis (2008-12)
Finance crisis in America which was the main impetus for the European
Union, Russian Federation and many other developed countries.
Russia Today (2015)
In the spring of 2015 the head of the IMF Christine Lagarde said that
"global economic recovery continues, but it is modest and uneven. People
in many parts of the world do not feel this recovery.
Today, Russia is the largest exporter of weapons and equipment for the
energy, nuclear and space industries.
-Member of G-8
-Permanent member of UN Security Council.
All this makes Russia a very important element of the global economic
community.
6. EU and Russia Trade Relations:
*EU is the Russia's biggest neighbour and also the number one trading
partner.
*According to the Energy Information Administration (EIA), European
countries import 84% of Russia's oil exports, and about 76% of its natural
gas.
*Germany is the single biggest importer of Russian oil and gas.
US and Russia Trade Relations:
*As of 2010, Russia is the source of 1.3% of American imports, up 244%
to $26.8 billion a year from 2000 levels.
*Exports to Russia have seen similar growth, up 343% to $9 billion
between 2001 and 2010.
*Russia exports mainly inorganic chemicals and oil to US and imports
aircrafts parts and meats.
7. * The Russian role in the Ukraine conflict has seriously affected EU-Russia relations. Most
EU- Russia cooperation programmes have been suspended targeting the areas:
-Imports coming from Crimea with Ukrainian origin will be prohibited.
-EU has imposed ban on investments. All supply related, finance and real estate firms
investments cannot be made EU citizens.
-EU will not allow trims related Visa to Crimea and it private cruise will not be allow to enter
EU waters without any emergency.
* USA imposed sanctions against Vnesheconombank (VEB), Gazprombank and SBER bank
are worst affected as they will not be eligible to get loans from Americans banks or MNC’s
anymore.
* The loans provided to these banks will be short-term and US citizens will not be able to buy
bonds of these companies. VEB and Gazprombank accounts for $1.2 billion loans and it
will reduce refinancing the firms across USA and Russia.
8. Reasons for Sanctions:
On 22 June 2015, the Council extended EU economic sanctions, which were introduced
in response to Russia's destabilising role in Eastern Ukraine, until 23 June 2016.
Most EU- Russia cooperation programmes have been suspended targeting the areas:
1. Access to the capital markets
2. Defence
3. Dual-use goods
4. Sensitive technologies (Including those in the energy sector).
5. EU has imposed ban on investments. All supply related, finance and real-estate firms
investments cannot be made EU citizens.
In 2014 ,US took major decision after the Russian military intervention in Ukraine, US
Sanctions Executive Order for 'Blocking Property of Certain Persons Contributing to the
Situation in Ukraine'.
9. The sanctions by USA and EU will disrupt the monetary policy and the Central bank of
Russia as they will–
-Low Real GDP due to reduced trade activities.
-Reduced Interest Rates.
-the reduced interest rates will make the inflation rise in the country which go up to 16.7%
then the present which is just around 10%.
-Russian MNC’s outrage as they will have to trade with other countries for profits.
10. *The presence of Russian troops in Crimea has worst affected
the Stock and bonds. The reason is unclear is it due to Russian
troops or economic sanctions.
*The Putin’s reluctant and stubborn behaviour has escalated
sanctions tensions and instead of against individual it can
grow at higher level as predicted by various economic and
political experts. However, the EU and USA has not shown
pure support for the third round of sanctions against Russia in
2016.
*To sum up it is important for Russia to get rid of the Crimea
and Ukrainian crisis and should make better relationship
towards its neighbourhood.
11. Sanctions on Russia are 'economic war'Holly Ellyat,Friday, 30 Jan 2015 | 8:50 AM
http://www.cnbc.com/2015/01/30/new-sanctions-on-russia-are-economic-war.html
Russia: EU extends economic sanctions by six months 22/06/2015
09:45http://www.consilium.europa.eu/en/press/press-releases/2015/06/22-russia-sanctions/
Russia reacts to EU sanctions with further western trade embargos Thursday 11 September 2014 16.46
BST http://www.theguardian.com/world/2014/sep/11/russia-eu-sanctions-west-trade-embargos-cars-
ukraine
EU agrees economic sanctions on Russia, EUROPEAN VOICE, ANDREW GARDNER 7/29/14, 7:12
PM CET Updated 8/8/14, 5:03 PM CET http://www.politico.eu/article/eu-agrees-economic-sanctions-on-
russia/
Russian Economic Report 2015. http://atlas.media.mit.edu/en/profile/country/rus/
US Department of State, Diplomacy of Sate in Action http://www.state.gov/p/eur/ci/rs/200years/
Obama and Medvedev meeting in Moscow. Courtesy of flickr.com/MikaStetsovski 23 June
2015http://politicsandpolicy.org/article/us-and-russia-new-trade-policy
* The White House,Office of the Press Secretary, March 04, 2014 https://www.whitehouse.gov/the-
press-office/2014/03/06/executive-order-blocking-property-certain-persons-contributing-situation
Russia's trade ties with Europe,4 March 2014,Europe http://www.bbc.com/news/world-europe-26436291
EU relations with Russia, 1994 Partnership and Cooperation Agreement
(PCA).http://eeas.europa.eu/russia/about/index_en.htmEuropean External Action Service (EEAS),Maja
KOCIJANCIC EEAS Spokesperson, Office: BERL 03/319http://europa.eu/newsroom/highlights/special-
coverage/eu_sanctions/index_en.htm
12. United States and EU Trade Sanctions Against Russia,Chandler Bentley Mrs.
Straub AP Economics,March 31,
2015http://pewaukeeeconomics.blogspot.cz/2015/04/united-states-and-eu-
trade-sanctions.html
US and EU Expand Economic Sanctions Against Russia, By Niles
Williamson,Region: Europe, Russia and FSU, USA,Theme: Global Economy,
US NATO War Agenda,In-depth Report: UKRAINE REPOR, Global
Research, September 14, 2014 http://www.globalresearch.ca/us-and-eu-
expand-economic-sanctions-against-russia/5401587
U.S.-Russian trade relationship? There really isn't one, MARCH 18, 2014,
3:28 PM ESThttp://fortune.com/2014/03/18/u-s-russian-trade-relationship-
there-really-isnt-one/
U.S. imposes more Russian and Ukrainian sanctions,WASHINGTON | BY
YEGANEH TORBATI,Thu Jul 30, 2015 3:11pm EDT
http://www.reuters.com/article/2015/07/30/us-usa-russia-sanctions-
idUSKCN0Q42H720150730
U.S. Department of State, Ukraine and Russia Sanctions, March 6, 2014
http://www.state.gov/e/eb/tfs/spi/ukrainerussia/