Friday, April 25, 2014

Russia's Economy Plummeting -- Will it Stop?

This image is showing how the Russian economy was severely affected when the sanctions for the United States and other countries went into effect. The sanctions against Russia were following Russia's military action in and around Ukraine and the annexation of Crimea. Putin commented on the sanctions saying they damage all concerned and and reflect badly on who impose them. "Overall they are harmful for everyone, they destroy the global economy (and) are dishonorable on the part of those who use those types of tools," Putin said. On April 24, while in Korea, President Obama warned Putin it would be a matter of days, not weeks until more sanctions would be imposed on Russia, unless Russia takes significant steps to reduce the tension in eastern Ukraine. The goal of these sanctions is not to hurt Russian civilians, but hurt the banks Putin does business and the big businesses that are important to Putin. Obama wants to get other nations on board so it seems less of the US forcing these sanctions on Russia, but rather nations united together working to save Ukraine. The Ukrainian Prime Minister Arseniy Yatsenyuk said that Russia is expressing actions similar to those  in World War II and those horrible years haven't been forgotten and a “World War III” is not an option. I have been following the situation in Ukraine, and from what I know, I find it hard to believe Russia will avoid these added pending sanctions.

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