EU Sets Up For Russian Sanctions, But Where’s China? India?
News from the EU today shows last minute preparation underway to impose sanctions against Russia if it fails to unwind its Crimean venture. http://www.reuters.com/article/2014/03/13/us-ukraine-crisis-idUSBREA1Q1E820140313 All EU plans mirror US plans to freeze assets of Russian companies.
The list of companies to be sanctioned will likely begin with about 20 names, but as historically occurred, that list will expand to increase sanction pressures. http://www.ft.com/cms/s/0/bf57f81e-a862-11e3-8ce1-00144feab7de.html#axzz2vr5kxYiY
Analysts at http://HamiltonFinanceServices.com (HFS) pose a question based on October 2013 contracts and support agreements between China and Russia for significantly expanded oil and gas exports to China. http://www.reuters.com/article/2013/10/22/china-russia-energy-idUSL5N0IC10F20131022 The analysts note that pipeline preparations to carry out those 2013 agreements have been completed. Additionally, strong competition between Russian companies to access the Chinese market persist today. http://www.cnbc.com/id/101475550
Further, negotiations now underway contemplate building new pipelines from Russia to India. http://en.itar-tass.com/economy/721066
So HFS poses this question for the EU and US enthusiasts for sanctions against Russia: What do China and India say about sanctions as their economies grow increasingly dependent on Russian oil?
What do you think?
