EU Pokes At Russian Bear To Its Peril
A draft seven page document prepared by the EU in cooperation with the US articulates sanctions against Russian citizens holding assets or traveling in the EU. The document will be considered by EU foreign ministers next Monday, 17 March 2014. http://www.reuters.com/article/2014/03/12/us-ukraine-eu-russia-sanctions-idUSBREA2B0QJ20140312
Passage and implementation of the sanctions hinges on whether Russia will halt expansion into the Ukrainian peninsula, Crimea, through its referendum vote in Crimea set for 16 March 2014. http://www.channel4.com/news/ukraine-crisis-uk-to-push-for-travel-bans-on-russian-mps-state-ownership-crimea-companies
To analysts at http://HamiltonFinanceServices.com (HFS) the EU cooperation with the US could easily backfire due to European dependence on Russian petroleum, and if Russia chooses retaliation, not only oil but raw materials for manufacturing could be placed in jeopardy. In the end, say HFS analysts, Russia continues holding the upper hand, and Russia knows it.
What do you think?
I’d love to see a day when these oil-rich countries (except for Canada, of course! :)) choke on their glut of oil. It’s too bad alternative sources of energy are so expensive and relatively inefficient. Yes, Russia holds the upper hand and one has to ask oneself: what next? What if Russia wants to annex Estonia or any of the Baltic countries? What about Russia reclaiming East Germany? What about Russia demanding a partitioning of Poland? It’s too late for the Crimea so the Ukraine might as well surrender it. Given that the former president was elected and then overthrown as well as the fact that the Crimea is largely Russian speaking and voted to go with Russia… what is the point in resistance? Forget the sanctions and draw the line in the sand elsewhere.
JamesD, you have a lovely capacity for nice dreams. In our life times, however, oil gluts will imply economic world influence.
I personally dream of LENR (microwave size units that supply enough virtually free energy for a community of about 350 people, running on water and producing as a byproduct, helium and trace tritium) to replace petrol products worldwide in about 35 years.
As for Russian hegemony and expansion, I believe its appetites are much more provincial, meaning it will be attracted mostly to Russian speaking citizens abroad, especially in area (like Georgia in 2008) that offer economic strength and weak military resistance. Georgia is a bread basket of agrarian bounty. However, other former satellites of the USSR don’t offer much economic incentive and few Russian speakers or sympathizers. So risks drop precipitously for them.
Just my take on it, of course, and I welcome contrasting thoughts.