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The Logic Behind Obama’s Step-by-Step Approach To Russia
The Logic Behind Obama’s Step-by-Step Approach To Russia
By Hayes Brown
<...>
The logic behind taking such a seemingly small steps made more sense on Thursday. Two days earlier, Russia had again defied the U.S. in officially moving to annex Crimea into its territory. In response, this morning saw the unleashing of sanctions against 20 more Russian officials, including several from deep within Putin’s inner circle. For example, one of the individuals listed is Gennady Timchenko, “one of the founders of Gunvor, one of the world’s largest independent commodity trading companies involved in the oil and energy markets,” according to the Treasury Department. “Putin has investments in Gunvor and may have access to Gunvor funds.” Timchenko has already sold his stake in Gunvor to his business partner in anticipation of the coming sanctions. Yuri Kovalchuk — the prime stockholder at Bank Rossiya, which has also been sanctioned — is Putin’s personal banker and will surely not enjoy the inability to access funds held in dollars.
In addition, Obama today announced that he had also signed another executive order — the third in the last two weeks — that grants the Treasury Secretary the ability to potentially place sanctions on Russia’s “financial services, energy, metals and mining, engineering, and defense” industries. “This is not our preferred outcome,” Obama said in a statement from the South Lawn. “These sanctions would not only have a significant impact on the Russian economy, but could also be disruptive to the global economy. However, Russia must know that further escalation will only isolate it further from the international community. The basic principles that govern relations between nations in Europe and around the world must be upheld in the 21st century.”
Given the response to today’s sanctions, it appears that the message Obama wanted to send appears to be getting through. Credit agency Standard & Poor dropped their outlook on Russia’s economy from stable to negative in the aftermath of the new sanctions’ announcement. Russian business leaders are upset that after waiting an hour to speak with Putin over the hundreds of millions of dollars in value he’s cost their companies, he spoke with them for only five minutes. And rather than heralding closer ties with their allies, Moscow’s move into Ukraine has spurred enough backlash that Belarus — which has talked of joining a European Union like alliance with Russia — is now talking about forming a partnership with NATO.
Journalists with longtime experience in Russia are also taking note. “Wow,” the Guardian’s Shaun Walker said after the sanctions’ announcement. “For everything Obama did wrong on Syria, he’s doing right on Russia,” The New Republic’s Julia Ioffe tweet out. “The list goes on and on and includes ministers, lawmakers, businessmen all with two things in common: their wealth and their proximity to Putin,” Buzzfeed’s Miriam Elder wrote. “The Kremlin must be freaking out.”
- more -
http://thinkprogress.org/world/2014/03/20/3417125/logic-obama-russia-sanctions/
By Hayes Brown
<...>
The logic behind taking such a seemingly small steps made more sense on Thursday. Two days earlier, Russia had again defied the U.S. in officially moving to annex Crimea into its territory. In response, this morning saw the unleashing of sanctions against 20 more Russian officials, including several from deep within Putin’s inner circle. For example, one of the individuals listed is Gennady Timchenko, “one of the founders of Gunvor, one of the world’s largest independent commodity trading companies involved in the oil and energy markets,” according to the Treasury Department. “Putin has investments in Gunvor and may have access to Gunvor funds.” Timchenko has already sold his stake in Gunvor to his business partner in anticipation of the coming sanctions. Yuri Kovalchuk — the prime stockholder at Bank Rossiya, which has also been sanctioned — is Putin’s personal banker and will surely not enjoy the inability to access funds held in dollars.
In addition, Obama today announced that he had also signed another executive order — the third in the last two weeks — that grants the Treasury Secretary the ability to potentially place sanctions on Russia’s “financial services, energy, metals and mining, engineering, and defense” industries. “This is not our preferred outcome,” Obama said in a statement from the South Lawn. “These sanctions would not only have a significant impact on the Russian economy, but could also be disruptive to the global economy. However, Russia must know that further escalation will only isolate it further from the international community. The basic principles that govern relations between nations in Europe and around the world must be upheld in the 21st century.”
Given the response to today’s sanctions, it appears that the message Obama wanted to send appears to be getting through. Credit agency Standard & Poor dropped their outlook on Russia’s economy from stable to negative in the aftermath of the new sanctions’ announcement. Russian business leaders are upset that after waiting an hour to speak with Putin over the hundreds of millions of dollars in value he’s cost their companies, he spoke with them for only five minutes. And rather than heralding closer ties with their allies, Moscow’s move into Ukraine has spurred enough backlash that Belarus — which has talked of joining a European Union like alliance with Russia — is now talking about forming a partnership with NATO.
Journalists with longtime experience in Russia are also taking note. “Wow,” the Guardian’s Shaun Walker said after the sanctions’ announcement. “For everything Obama did wrong on Syria, he’s doing right on Russia,” The New Republic’s Julia Ioffe tweet out. “The list goes on and on and includes ministers, lawmakers, businessmen all with two things in common: their wealth and their proximity to Putin,” Buzzfeed’s Miriam Elder wrote. “The Kremlin must be freaking out.”
- more -
http://thinkprogress.org/world/2014/03/20/3417125/logic-obama-russia-sanctions/
Statement by the President on Ukraine and Letter (announcing additional sanctions)
http://www.democraticunderground.com/10024697321
15 replies
= new reply since forum marked as read
= new reply since forum marked as read
who wants to solve a problem, instead of a bunch of whiny, crazy bitches who think you're only a man's man if you declare war and start shooting at everything that moves.
Glad I got that off my chest. 
Ugh..... 
