Europe Blinks - May Cancel Russian Sanctions
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
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.
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It appears Putin's chess kung fu beats Obama's checkers...
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