Monday, August 3, 2015

Western sanctions plunging Russian economy – Polish Radio


                             Russia’s economy seriously slows down and this year will grow much less than previously forecast. This is the result of the latest analysis of the International Monetary Fund.
                         

The Fund lowered its forecast of economic growth in Russia this year – from 1.3 to just two tenths of a percent. This is another cut forecasts in recent times.

Earlier, the Fund assumed that Russia’s economic growth this year will amount to three percent.

Reuters quoted the head of the IMF mission in Moscow said that Foreign investors can withdraw this year with the Russian market even a hundred billion dollars.

It is possible further reductions in the forecasts.

Previously, the Fund announced that international sanctions against people and businesses of the president’s entourage of Vladimir Putnia adversely affect the Russian economy and the countries of central, eastern and south-eastern Europe.

The sanctions in response to Russia’s policy towards Ukraine

On Tuesday in the Official Journal of the European Union published a new black list of persons covered by the EU visa and financial sanctions in connection with the crisis in Ukraine. They were on it, among others, Deputy Prime Minister of Russia Dmitry Kozak and the head of the General Staff Valery Gerasimov.

The EU blacklist of sanctioned is 48 people. The restrictions are a response to Moscow’s aggressive policy towards Ukraine. The Russians, subject to sanctions, are banned from entering the EU and locked financial assets in Europe. As expected, the list may not be added Russian businessmen and heads of companies. There is among them managers of Gazprom.
United States also imposed sanctions on Monday as visa bans and asset freezes against seven Russians, including the head of the group Rosneft Igor Sechin. It was also decided to freeze the assets of 17 companies associated with the environment of the Russian president.
According to unofficial information, the ambassadors of 28 countries are to meet again on Wednesday in Brussels to talk about the next expansion of the list. Poland, along with Britain and Sweden, and the Baltic countries seeking to add to her 8 closest associates of Vladimir Putin.

The European Union still does not want to punish specific companies. There is also no consensus among Member States on economic sanctions in relation to the concerns of some countries about the negative impact of the restrictions on their trade relations with Russia.

IAR, bless

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