... of the three-day conference with the participation of former and current high-ranking government officials from China and the United States, representatives of international financial organizations and private banks, as well as experts from Russia, China, and the US, the following issues were discussed: objectives and costs of international sanctions regimes, international political aspects of new financial technologies, prospects for the development of crypto-currencies and the use of "blockchain" technologies, as well as the general state of the world financial markets and their ...
... sanctions regime of the Western countries towards Russia and prospects for the settlement of the Ukrainian crisis, the issues of the EU-the U.S. relations in connection with the situation around Iran, possible measures and mechanisms for mitigating sanctions, as well as scenarios for the development of foreign policy economic instruments in the U.S., EU, Russia, and China.
Leading scientists and experts in the area of international relations, world economy, conflict resolution, as well as representatives of law firms took part in the event.
... Of course, there have been losses, there has been some pain on both sides, but it’s slowly getting better.
What prospects do you see for our economic ties, maybe in the energy sphere as well, given the circumstances we are living in?
Igor Yushkov:
Sanctions vs. Cheap Oil: What is More Dreadful for Russia’s Fuel & Energy Complex?
For European Union countries, one main point is that they’re a net energy importer. The EU is the largest net energy importer in the world, bigger than Japan and China. Its production is scheduled to go down and its consumption is projected to rise. So it will need to fill that gap — that growing deficit — with energy from somewhere else. Now, of course, people are talking about diversification, about seeking ...
... or to increase pressure on it. Therefore, the new Chinese companies and citizens may be added to the blacklist. And Russians may be there along with them.
How likely is the escalation of US sanctions? What is the difference between sanctions against China and sanctions against Russia? How far will Washington go?
The American policy of sanctions in its current form differs from the sanctions of the 1990s and the early 2000s. Before, the main means of sanctions pressure was trade, but now the sanctions migrated ...
... policies towards Russia in the last two decades supporting its structural modernization. And it is still the prevalent approach. Sanctions were conceived as a dissuasive measure regarding the Kremlin’s intervention in Ukraine, not as a tool to ruin ... ... and neighbors than the European Union.
Last but not least, there is no any indication suggesting that Asian powers, including China, share this strategic view regarding Russia. Beijing sees Moscow as a key diplomatic partner when it comes to challenging ...
... million tons for a total of 16.5 million tons annual production volume, 95% of which are already pre-sold. According to preliminary contracted quantitates, 85% of the annual production capacity will be transported to the Asia-Pacific region, out of which China will receive 3 million tons. The project is expected to become operational in 2017.
The major shareholder of Novatek, Gennady Timchenko, happens to be a close friend of Russia’s President Vladimir Putin. In 2014 Novatek was put on the US sanctions list, which forbid financing the company. This greatly endangered the realization of the company’s projects, most notably the Yamal LNG, since the company lost access to Western capital markets. While around 5.7 billion euros were provided ...
... carefully and judiciously, as well as selectively hit back and the result is that now Europe’s farmers are suffering heavy losses, which will never, ever be replaced nor compensated adequately for, by the EU and US politicians, who have advocated such sanctions. Russia has other partners, waiting in the wings – notably from China and South America, ready and able to fill the trade gap, left by the EU’s sanctions. Russian dairy, meat, poultry, fish and vegetable producers are also now ramping up their own domestic production, to plug the gaps keep up with consumer demand....
... year. If Chinese investors from all three centres become accessible through Hong Kong, the combined market capitalisation of 7.5 trillion US dollars (Source: Goldman Sachs) will pose a serious challenge to New York and London. A wider pivot towards China has been the main plank of Russia’s evolving economic response to western sanctions. Public statements from Moscow and Beijing on forging greater economic and trading links have been matched by two massive multibillion dollar gas deals in May and November of last year, and a three-year currency swap deal worth 150 billion yuan ...
... fuel to the fire and provoked the adoption of ambitious decisions during the BRICS Summit in Brazil in July 2014, most notably concerning the global financial architecture, which is one of the most painful issues for the West. Brazil, Russia, India, China and South Africa agreed to establish the BRICS Bank, which may seriously challenge the IMF and the World Bank, which are controlled by the traditional Western centers of power.
How long will the sanctions war last? Taking into consideration the fact that
they are inflicting damage on both sides
of the conflict, we can assume that the reciprocal sanctions are likely to be lifted in the near future. Meanwhile, the offer made by Moscow to Latin ...
