Europe Furious That Putin Dares To Retaliate To Sanctions, Blames Economic Slide On Kremlin

Tyler Durden's picture

Either Europe is run by a bunch of unelected idiots, or... well, that's about it.

After blindly doing the US' bidding over all propaganda matters Ukraine-related, and following just as blindly into round after round of US-inspired sanctions, sanctions to whose retaliation Europe would be on the frontline unlike the largely insulated US, Europe appears to be absolutely shocked and is apoplectic that after several rounds of sanction escalations, Russia finally unleashed its own round of sanctions and yesterday announced a 1 year ban on all European food imports, something which will further push Europe into a triple-dip recession as already hinted by Italy yesterday.

In fact, Europe is so stunned by this unexpected "politically-motivated" retaliation by Russia, it issued a press release.

Statement by Commission spokesman on the announcement of measures by the Russian Federation


The European Union regrets the announcement by the Russian Federation of measures which will target imports of food and agricultural products. This announcement is clearly politically motivated. The Commission will assess the measures in question as soon as we have more information as to their full content and extent. We underline that the European Union's restrictive measures are directly linked with the illegal annexation of Crimea and destabilisation of Ukraine. The European Union remains committed to de-escalating the situation in Ukraine. All should join in this effort. Following full assessment by the Commission of the Russian Federation's measures, we reserve the right to take action as appropriate.

Surely, Putin is waiting for the European Commission to also issue a #hashtag before he starts shaking in his boots.

For an indication of just how clueless Europe is, we also read that it is ready to appeal to the World Trade Organization to have the Russian agriculture import bans lifted, a European diplomatic source told ITAR-TASS.

“Politically motivated large-scale trade restrictions are a direct violation of WTO rules, which Russia pledged to comply with,” the diplomat said. “These measures will be thoroughly analyzed, and then relevant claims will be submitted with the WTO.”


The source added that the European Commission would start analyzing Russia’s ban on imports from EU states as soon as the official list of banned goods would be published.


The EU Council may convene an urgent meeting in connection with Russia's response to European sanctions.


It is early to say whether the EU will take measures in response to the Russian ban on imports of food products from Europe, source told.


“First, it is necessary to see and analyze the official list of product that Moscow intends to ban. After that, decisions will be made both at the European and the national level,” the source stressed.

The punchline: "The Russian ban on agricultural imports from the European Union is an “irresponsible measure” that can lead to losses of billions of euro for European as well as Russian consumers, the source told ITAR-TASS."

In other words, Europe actually thought it would keep escalating without Russia retaliation. If confused, see the first sentence of this article again.

In the meantime, Europe counter-retaliating to Russia's retaliation to European sanction aggression is sure to make the already bad trade war, worse. A trade war so bad in fact, that what snow was to Q1, "evil Putin" will be to Q3. From Bloomberg:

The crisis in eastern Europe is showing signs of disrupting Mario Draghi’s economic outlook.


Evidence is building that the conflict in Ukraine and European Union sanctions against Vladimir Putin’s Russia are undermining a euro-area recovery that the European Central Bank president already describes as weak. With the ECB expected to keep interest rates on hold near zero today and refrain from any new policy measures, Draghi is likely to face questions on how he plans to keep the economy on track.


The ECB may have few tools left to mitigate the impact of political turmoil that European companies from Anheuser-Busch InBev NV (ABI) to Siemens AG (SIE) say is hurting their business. A volley of measures introduced in June will take time to work, and policy makers have so far shied away from wheeling out a full-scale asset-purchase program.


“The euro-zone recovery is very fragile and the macro situation fluid,” said Andrew Bosomworth, managing director at Pacific Investment Management Co. in Munich. “Expect Draghi to elaborate on spillover risks from the Russia-Ukraine crisis.”

Ironic, because this is just as we said would happen when we predicted that Putin will soon become Draghi's best friend and as a result of Putin "aggression" Draghi will have "no choice" but to boost Europe's monetary insanity, which recently crossed into the NIRP twilight zone, even beyond the rabbit hole.

Finally, Bloomberg actually did touch correctly on what the recent trade war escalation is all about in "Russia Sanctions Accelerate Risk to Dollar Dominance."

U.S. and European Union sanctions against Russia threaten to hasten a move away from the dollar that’s been stirring since the global financial crisis.


One place the shift has become evident is Hong Kong, where dollar selling has led the central bank to buy more than $9.5 billion since July 1 to prevent its currency from rallying as the sanctions stoked speculation of an influx of Russian cash. OAO MegaFon, Russia’s second-largest wireless operator, shifted some cash holdings into the city’s dollar. Trading of the Chinese yuan versus the Russian ruble rose to the highest on July 31 since the end of 2010, according to the Moscow Exchange.


While no one’s suggesting the dollar will lose its status as the main currency of business any time soon, its dominance is ebbing. The greenback’s share of global reserves has already shrunk to under 61 percent from more than 72 percent in 2001. The drumbeat has only gotten louder since the financial crisis in 2008, an event that began in the U.S. when subprime-mortgage loans soured, and the largest emerging-market nations including Russia have vowed to conduct more business in their currencies.

"No one is suggesting"? We are!

As for the propaganda landscape, the scene is already set:

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Anarchy 99's picture

a tiny worthless piece of shit tribe in the

Euro Monster's picture

If they blame weather for economic slide why not Putin? That's even a better excuse... That became so predictable. Next on the list is Ebola!

yogibear's picture

Russia raise Natural Gas prices big time (double or triple) and demand payment in gold. Watch the EU scramble.


Mi Naem's picture

That's no problem - Europe's gold is safely secured at the Fed in NY (he said with a straight face). 

CHX's picture

Yes, the "Energy-for-Gold option" is one of the scenarios for a much higher (re-)valuation (in fiat terms) of the yellow metal. 

nosuchnick's picture

EU's massive hashtags build-up near Russian border is ongoing and nobody says anything!!

SpanishGoop's picture

Think before you act.

Guy Verhofstadt speaking on Maidan Square


You stupid Europeans.



ThisIsBob's picture

Can't say I care a whole lot about Europe.  Bunch of ass kissers.

IridiumRebel's picture

Newsweek: a trusted source or agenda by crazies? Agenda by crazies. 


Anne worked part time and gave a large portion of her earnings to a group she called "the Community," a Christian sect led by a charismatic Korean pastor named David Jang. After joining the group in her late teens, Anne had spent more than seven years working in its ministries—organizations and businesses run by Jang's disciples. With short hair and large glasses, Anne was now in her late 20s but looked younger. She said she rarely had enough money for small luxuries like coffee. We chatted with a mutual friend while we waited for her husband, Caleb, who also worked for a ministry: the International Business Times, the flagship publication of an eponymous online news company that would, nine months later, become the new owner of Newsweek magazine.

Buckaroo Banzai's picture

When Mother Jones is outing you as crazy you know you're batshit crazy. They oughta know.

lakecity55's picture

Hahahhaaha, that will teach them to play hand grenade with the Monkeyman across the ocean.

agstacks's picture

If I have to hear the MSM use this as an excuse for poor economic results going forward, I will have to increase my drinking substantially. 

CHX's picture

With Angie and Vlad on the phone every other day, this has to be scripted behind the scenes. It's all part of much (MUCH) larger doings that are in the works by the global psychos running the show. This is only a surprise to severely brain-damaged or otherwise impaired people that cannot add together 1+1, but that's just my 2 oz.

Son of Captain Nemo's picture

Either Europe is run by a bunch of unelected idiots, or... well, that's about it.

"Yes" they are idiots but this read left out the U.S. MIC that has bases all over it's territories that threatens them at every turn if they don't "say" and "do" what they are told!...

Stupid "yes" but "cowardice" is the larger of the two problems!

Just imagine where the EU would be right about now if Germany, Italy, and Greece took the peace dividend from the Cold War 24 years ago and told the United States they would be downsizing their presence to "0" over the next decade?...

Answer: No EU!

shanearthur's picture

Unless the WTO can stop winter, Europe better reverse course.

Son of Captain Nemo's picture

Unless the WTO can stop winter, Europe better reverse course.


Nailed it!

Don't think iPutin isn't looking at his calendar every morning counting the days to September 21, with the Rolling Stones "Time is on my side" as his wake up call!

CHX's picture

Dear Europe, if you really want inflation, you'll get inflation. Vlad

Day_Of_The_Tentacle's picture

Hmmmm... good point there. With almost deflation in Europe that may be a blessing in disguise (I don't really mean that, but making a different point) whereas the maintenance of that 17 trillion dollar pile of dung the US is sporting these days may become ever so slightly more difficult is the perception of inflation risk in both Europe and Russia takes a moon-shot.

Who was it that whispered about loss of market access or sumting.... nah that was different. that was only for 2-10 days or so. All good.

Just musing.... 

my_nym's picture

Maybe they're planning on there being more global warming.

lakecity55's picture

Yeah, they put the wrong guy's photo on the cover. It should be Ebolabama.

What horesehockey. Russia was bothering nobody until Nulandsteinberg came along with her two passports.

Itchy and Scratchy's picture

Winners have a plan ...losers have excuses.

CrazyCatLady's picture

Everyone has a plan, until they get punched in the mouth.


Such a truism

Buster Cherry's picture

Well, Putin warned of the boomerang effect....and here it is.

Hopefully europeans will remember that wool blankets are still the best.

p00k1e's picture

You bring up a good point.

How can we exploit the cold Europeans?  Three months before the freeze.  

Itchy and Scratchy's picture

Can 'ya remind me again which ones are the communists cuz I ain't sure?

boomny's picture

Menwhile today in Kiev

Lately I adhere to the philosophy of George Carlin - enjoy the freakshow...

Itchy and Scratchy's picture

A dream cum true for the lovely Asst Sec of State Victoria (FU) Nuland (nee: Nudleman) Kagan!

laomei's picture

Russia has only been in the WTO for 2 years and has seen few if any benefits, while foreign companies gaining market access have seen most benefit.  Russia was fine with trade unions before and pulling out of the WTO would basically be fucking it over rather hard.  Once again, all the cards in Russia's hands. 

boattrash's picture

Yep, ya mess with the bull, ya get the horn.

 EU better just hope Putin keeps that gas flowing, that is, IF they want to be able to cook all those "Left-Overs".

Son of Captain Nemo's picture

Russia has only been in the WTO for 2 years and has seen few if any benefits, while foreign companies gaining market access have seen most benefit.

And over those 2 years imagine what Russia has had to listen to from the likes of the U.S. and EU members, "carrot/stick" that always winds up as an idle threat from the ameba.

buzzsaw99's picture

i have no respect for putin whatsoever until he cuts oil and gas exports severely. if he can't do that he might as well kiss hopey's black ass right now and save everyone all the drama.

Clint Liquor's picture

How about he waits until winter and then says they will only accept Gold for it?

buzzsaw99's picture

that would suck for germany. lolz lolz lolz

Clint Liquor's picture

That would suck for the world's reserve currency, as it's value is benchmarked against Gold.

buzzsaw99's picture

i'm just saying, how ironic the usa maggots steal all germany's gold right before a gold standard is unilaterally enacted by an energy power? funny shit there.

Victor999's picture

Why do that when he can torture them with a thousand cuts?

buzzsaw99's picture

'tis a mere flesh wound

medium giraffe's picture

They must still think we're fooled by these fucking globalist charades.

my_nym's picture

It has been my experience that the average American doesn't even know that charades, propaganda and entertainment are being produced for them.

Many still think that Osama planned and executed 911 (after a CNN interview) from one of his mythical cave complexes that Rumsfeld said on Meet the Press that "Al Qaeda" could drive (non-existent) tanks in and out of.  Etc.etc.  

More entertainment.  People usually want a reality show, not reality.  Indeed, many are willing to die or have their limbs blown off to pay the price of admission to their reality show.  The apparent value of incorporating reality into a Wizard of Oz/gold ounces type of reality show?

Priceless.  After all, once the "band of brothers" type stuff kicks in, in war... or you've lost a limb... or a family member... can you admit that you lost priceless things in life, for oligarchs and foreign factions?  

"It is easier to fool people than to convince them that they have been fooled."  --Mark Twain

"Fool me once, shame on you... fool me twice... uh, a fool can't get fooled again!"  --W, the pet (scape) goat for the magick of 9, 11... who wasn't even needed to perform his role in the reality show.  That's how dumb people are getting.

medium giraffe's picture

Yep. Or send their sons and daughters off to be murdered for 'honour' or some such fiction.  Whatever lets them sleep at night without having to face the fact that they are sacrificing their children for a bigger TV, or so they can run their gigantic pointless SUV around without having to get blood on their own hands.

But you don't need the people, you only need 100 monkeys.  And there seem to be enough monkeys around that some of the plans are not quite working out so well.

Whatever happened to W.? As a younger senator he was lucid and eloquent.  Just the booze and drugs or did someone drop him on his head, so to speak?

yogibear's picture

"Once again, all the cards in Russia's hands."

Putin should realize that. 

Took Red Pill's picture

Fuck with Putin and you'll be sorry!

Victor999's picture

Three levels of sanctions.  Blaming Putin for all the troubles of the world.  Blaming Putin for MH17 without a shred of evidence.  And when Putin finally takes action, they sqeal like poked pigs, shocked that Russia could even contemplate sanctioning back at them.

They have now roused the bear, and I suggewst they back off quickly.  If they retaliate with further sanctions, they will be asking for a torturous winter.

Winston Churchill's picture

Germany just needs to be able to run faster than the others.

Its choice time. Go down with the USA ,or join the eurasian alliance.

Not too difficult a decision , but the tactics are a little tricky to say the least.

The green, green, glass of Germany is a very real possibility.

krispkritter's picture

US/EU: Primates Porking Pigskins.

Putin: One hand on a gas main valve, laughing.

Walt D.'s picture

Wait until Russia starts asking for gold in exchange for oil and gas. They will eventually figure out that it is not a good idea to exchange valuable tangible commodities for potentially worthless fiat money IOU's that can easily be reneged upon. 

WillyGroper's picture

Let's start with deduction.

We know it's not in Ft. Knox.


Victor999's picture

Three levels of sanctions.  Blaming Putin for all the troubles of the world.  Blaming Putin for MH17 without a shred of evidence.  And when Putin finally takes action, they sqeal like poked pigs, shocked that Russia could even contemplate sanctioning back at them.

They have now roused the bear, and I suggewst they back off quickly.  If they retaliate with further sanctions, they will be asking for a torturous winter.