If the West continues its "destructive sanction policy," Kremlin spokesman Dmirty Peskov said Moscow will deploy additional 'protective' measures. Peskov warned, "we have said several times that Russia is not a fan of speaking in terms of sanctions and has not been an initiator. But if our partners continue their non-constructive and even destructive practices, then additional measures will be developed." Of course, this escalation is merely pent-up de-escalation and therefore good reason to buy US stocks, except bonds seem a little concerned this morning that Putin's blowback will dent global growth further.
Moscow will consider additional protective measures if the West continues its destructive sanction policy, Kremlin spokesman Dmitry Peskov said Tuesday.
"Different variants are being developed. We have said several times that Russia is not a fan of speaking in terms of sanctions and has not been an initiator. But if our partners continue their non-constructive and even destructive practices, then additional measures will be developed," Peskov said.
The first round of sanctions against Russia was implemented by the United States and the European Union back in March as a response to Crimea’s reunification with Russia following a referendum. As the Ukrainian crisis escalated, Switzerland, Canada, Australia and Japan gave in to US pressure and drew up their own sanctions.
In response to Western sanctions, Russian President Vladimir Putin signed an order on economic measures to protect the country’s security. The decree went into effect on August 7 and banned the imports of agricultural and food products from the countries that had imposed sanctions on Russia for one year. The list of banned products includes meat, poultry, fish, seafood, milk, dairy products, fruits and vegetables.
Moscow said earlier it was ready to review the terms of its import restrictions if its Western partners showed a commitment to dialogue.
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The response so far is Treasuries are rallying and stocks holding gains...