Europe Blinks - May Cancel Russian Sanctions

Tyler Durden's picture

It appears the pain that Europe is already suffering post-Russian sanctions, is too much to bear (as we explained here). While NATO admits it saw Russian military forces cross the Ukraine border, European leaders, after discussions on widespread 'aid' for nations suffering from Russia's food ban, have said they are 'ready to review Russia sanctions' if the situation stabilizes. Furthermore, snubbing Washington, European leaders said they do not want to impose more sanctions on Russia. Obama alone again?

 

As Bloomberg notes,

EU ready to review Russia sanctions if situation in eastern Ukraine clearly stabilizes, although measures were in part imposed over annexation of Crimea, Interfax says, citing interview w/ EU envoy to Russia Vygaudas Usackas.

 

Sanctions not goal unto themselves

 

EU doesn’t want to impose more sanctions on Russia

 

EU hopes Russia will hand over humanitarian aid to Ukraine in compliance w/ intl law

 

EU hasn’t decided on suing Russia in WTO, ready to defend interests

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Perhaps they got a glimpse at this chart and realized just how bad things could get...

Russia is by far Europe's largest net export partner for food.. and that highlighted column is about to disappear through Russian sanctions, likely pressing Europe into a trade deficit.

Or read this on EU Energy independence...

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It appears Putin's chess kung fu beats Obama's checkers...