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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directaction's picture

C'mon, now. We can't blame the EU for supporting sanctions.

The EU is only following orders, doing exactly what they're told to do, just like the US. 

joego1's picture

Winter is coming and Putin will play his gas valve to Europe like a fine Violin.

Itchy and Scratchy's picture

Vladdie playin' his Straddy!

q99x2's picture

Fraud out of the City of London is becoming more difficult to sell.

Bankster Kibble's picture

If Russia's counter-sanctions are politically motivated, then so are EU's and America's.  If Russia's counter-sanctions violate WTO trade rules, then so do EU's and America's.  What is sauce for the goose is sauce for the gander.  If the WTO rules more for the West than for Russia, then it will just underline what many already suspect: WTO is a tool for Western hegemony.  Russia will leave the WTO and that will BREAK the WTO with countries who are tired of bowing to USA and EU orders.

EU and America leaders are just insane enough to think they can use WTO as a one-way cannon and not suffer any consequences.  This could be the end of WTO and beginning of global trade wars.  What has been up to now is child's play in comparison.

Next: the "hot" wars.

basho's picture

india just told the WTO too stuff it and now RU will do the same. the rules are changing, fast.

basho's picture

it's really difficult to think that these world leaders are this stupid.

you've just got to read this headline over and over. incomprehensible. who did they think they were dealing with? LMAO

un-f**king-believable.

now watch as RU moves into east UE on a peacekeeping mission exposing the Polish forces there while Kiew starts burning again.

the game is afoot, watson.

 

HardAssets's picture

Jim Willie says there is re-alignment going on in the background. Germany, France, and others making deals with Russia and China.  So maybe the proclamations on the surface are just a circus for the sheeple to watch. A way to place blame for failing financial systems.

FlyingDutchman's picture

Politically motivated, by jove!

Tss.

<sarc>

king leon's picture

Cheap fruit-n-veg heading to US en-mass

Herdee's picture

Fact is that the world understands that the EU,NATO and the CIA had an agenda for Ukraine and overthrew the old government.Made it more than obvious after it was revealed that the CIA chief had visited there.It's all about desperation now on the part of the Americans trying to hold onto U.S. Dollar hegemony.It only goes so far around the globe until everyone wakes up to the terror campaign of bombing everyone into submission.It's well known now that alternate money systems are developing to bypass Washington's corruption processes.Who in the world believes in Washington's politicians any longer?Nobody.They sent Canada's Prime Minister over to meet with Poroshenko some time back and it looks as though Washington used him as a stupid sucker for their plans.What an ass kisser.He'll do anything plus get down on his knees before Obama to get that XL pipeline in but Obama was just playing him as a moron from up north in Canada.

Pumpkin's picture

Anyone paying any attention whatsoever has noticed, the 'good guys' are not the good guys. So, what about the 'bad guys'?

the not so mighty maximiza's picture

they are all bad guys,  human race is fucked

Zwelgje's picture

good, the humanoids around here are too embarrassing. 

ThisIsBob's picture

Presumably the Europeans didn't figure that if you try to cause economic harm to someone, they might stop shopping at your store.

Two dogs's picture

Yep,  even a Polish pig-farmer could've figured that out.

Itchy and Scratchy's picture

Blame anybuddy 'cept the lovely 'innocent as a baby lamb' U.S. Asst Sec of State Victoria (FU) Nuland (nee: Nudleman) Kagan.

She's an innocent lambie ...Baaaaaaaaaaaa!!!! An she's got innocent doe eyes! (.)(.)

bid the soldiers shoot's picture

 

 

enter LADY MACNULAND

Out, out damned Putin! Out, I say..... (mumbling) The thane of Kiev was quite naive.... (rubbing hands) What, will my hands never be clean?  (smelling hands) There’s the smell of the blood still. All the crude oil of Arabia will not sweeten this little hand. Oh, Oh, Oh

DOCTOR

What a sigh is there.  Her heart is sorely changed.

GENTLEWOMAN

I would not have such a heart in my bosom for the dignity of the whole body.

 
general ambivalent's picture

Haha, anyone see this?

Vladimir Putin’s Chess-Master Nemesis

http://www.nytimes.com/2014/08/10/magazine/garry-kasparov.html?_r=0

'We may have convinced the Ukraine military to shoot down a civilian jet, but this article suggesting that someone is even better at chess than Putin will be a mark on his diplomatic record, surely. We'll just convince everyone we're not really trying and Putin isn't that good.'

Journalism has become an intricate attack ad.

goldhedge's picture

Waiting for the MPFags to chime in LOL.

Franktastic's picture

Out of Russia comes again the hope of the world” – Edgar Cayce

Throughout the readings of the ‘Sleeping Prophet’ Edgar Cayce we again encounter amazing references to Russia’s special place in the cosmic plan. Cayce said:
“In Russia there comes the hope of the world, not as that sometimes termed of the communistic, or Bolshevik, no; but freedom, freedom! That each man will live for his fellow man! The principle has been born. It will take years for it to be crystallised, but out of Russia comes again the hope of the world.”
(Edgar Cayce, 1944, No. 3976-29)

 

 

tony wilson's picture
Jewish Supremacists Are Stirring The Sectarianism - Morris

 

http://www.youtube.com/watch?v=mIPUFoCYKJg&list=UUweyNwo4cZM5gsIpuG4Zlew

 

SeminoleBob For Truth's picture

Stupid is as stupid does - Forrest Gump

Joe A's picture

As a retalliation, the EU will stop the import of Russian gas. That'll teach them.....oh wait...

felix2's picture

AFP article states Poland loses 1 billion Euro market
https://news.yahoo.com/faced-western-sanctions-moscow-resorts-food-fight...

Weak economies like Italy don't take much to sink. Is it war fears?
http://www.nytimes.com/2014/08/07/business/international/italy-falls-bac...

Smithfield, the world's biggest pork producer, is now Chinese owned. http://www.thenewamerican.com/economy/markets/item/16544-chinese-state-o...

Chinese can eat a lot of pork, but no way the sanction pork all making it over to China. Time to make an order to my favorite hog farmer. The little guys will take the hit

Disgusted with the warmongering - by sissy boys in suits

rsnoble's picture

Idiots: confirmed.

Actually qualified as stupid fucking morons.

mendigo's picture

While the story is funny, its off base.

They are raising the issue that russia is violating wto agreement and so will threaten russias trade with all wto members. Pretty serious.

Wto members will be forced to take sides.

NWO seems over confident. Can russia put togethrr a coalition. In thier favor obamas staff like bushs seem to screwup every endeavor. Will china side with the stupids with guns?

Jano's picture

The EU has nice options:

1. export the food stuff to USA. USA politics initiated the mess in Ua, see V. Nudelman and 5bn usd "invested" in the Ua. EU followed NATO/USA and hence their pitty.

There are 75 million people in US, who are on the edge and there are 45m people in US, who are in SNAP. they can well need it. Give the stuff to those people for free.

 

2. another part, dear EU, can be exported to the new wonderfull market in Ukraine. Give the stuff to the people for free. average monthly sallary in Ua is 400 USD, those people can good need it.

presidentsarkozy's picture

As Claude Rains' playing part of Major Henri Renault in "Casablanca" would have said to Humphrey Bogart :

Renault : Rick I m shocked SHOCKED I TELL YOU !! to learn that Russian imports of foodstuffs have been banned in your cafe ' ..... you realize thus puts in jeopardy all our EU Commission Directives....

Flunkey to Renault : Excuse me Sir , your manila envelope from your last night s negotiation which Mr Putin bade me hand to you before he left this morning.

Renault : Oh ....yes er ... well ....thank you very much .....and let this be a lesson to you Rick ...Goodbye .

Notsobadwlad's picture

I am thinking that Russia should make Greece, Cyprus and Portugal its exclusive agents for all Russian energy and mineral exports. Germany, France, England and Belgium would all have to pay the agents' price, if they wanted to heat their homes or fuel their industry.

Balance the power a bit in Europe.

kurt's picture

Putin is rebuilding his country. Massive programs to make his country more independent and less international is smart and good for his people. Its funny to watch the NWO Oligarchs astonished and baffled. If Russia stops eating processed food from the west, bisphenol a, hormonal plastic, they are bound to awaken from the hypnosis and dumbing down. Do they flouridate in Russia? If not, they will all become more awake, and effective against the dumbed down west's shambling, failing, dream state. I fear America, the decerebrate draft horse, is too far gone to reindustrialize. Can you imagine how hard it would be to get the steel mills running again? Coke, Coal, Ore, Machine operators, infrastructure? USA needs to restart from the inside out. Putin is giving his country such an opportunity. Yes! How, by cutting himself off and building from within. That's a cold war I could live with here but we are a slave to the internationalists.

Whatchamacallit's picture

Putin has all the cards and he knows it.

But... what will he do without champagne?

Bow Tie's picture

maybe they can impose their own sanctions in relaliation. oh, hang on...

zipit's picture

The west is just dying to provoke Putin into doing something they can use as a reason to being WW III.  And if they can't provoke him quick enough, just use a False Flag (another one, that is).