Copying and distributing are prohibited without permission of the publisher
HOTTER ON METALS: Russian sanctions costly for all
July 24, 2014 - 06:19 GMT
Economic interdependence between Russia and the European Union means sanctions carry a price to both sides.
So far, the EU sanctions have focused on travel bans and
asset freezes on members of president Vladimir
Putin’s inner circle. The short term impact was
market volatility but not harsh enough to be significant. With
the US going further last week, adding individuals and
significant companies to the off-limits list, the pressure has
been on the EU to do the same. But politics is getting in the
way. The rights and wrongs of the situation in eastern Ukraine
aside, the economic vulnerabilities of some EU nations and
their reliance on Russia for business and jobs has created
tensions between member states and delayed the introduction of
a package of further significant restrictive measures. France
has contracts to deliver helicopter assault ships to Russia
worth $1.3 billion, for instance, and is reluctant to let these
lucrative agreements go. Business groups in Germany have
meanwhile warned that 25,000 domestic jobs are...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
A standard subscription include one year's worth of news and prices. You can also upgrade to a premium subscription and benefit from news and pricing data going back to 1997 plus access to our online database - MB Company Data.
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.