Putin endorses economic payback for Western sanctions

[Geee]

The Hill:

Russian President Vladimir Putin expressed Tuesday that his government should respond to tough Western sanctions targeting its financial, defense and energy sectors.

 

“The political tools of economic pressure are unacceptable and run counter to all norms and rules,” Putin was quoted as saying by Russian news outlets, according to The New York Times.

 

“We need to discuss possible retaliatory measures,” Russian Prime Minister Dmitri Medvedev also was quoted as saying.

 

Russia is now considering blocking airlines including British Airways, Air France and Lufthansa from flying across Siberia to get to their destinations in Asia.

 

In addition, Russian lawmakers have raised the possibility of banning accounting firms based in “aggressor countries” from doing business in Russia. Some of the firms include Ernst & Young, Deloitte, KPMG, McKinsey, the Boston Consulting Group and PricewaterhouseCoopers, the Times said.

 

[Draggingtree]

6Aug

Russian Retaliation: Putin Orders Ban On All Food Imports From Sanctioning Countries For A Year

Tyler Durden:

Last week we noted Russia was considering banning fruit from Europe (as well as various other sanctions retaliations) but this morning Vladimir Putin has come out swinging by signing ‘a decree on countermeasures to Western sanctions’:

§ *PUTIN BANS FOOD IMPORTS FROM COUNTRIES SANCTIONING RUSSIA: IFX

§ *PUTIN ORDERS GOVT TO PREVENT ACCELERATED GROWTH OF FOOD PRICES

So trade wars escalate externally and price controls internally. It appears the US (and Europe) will indeed feel “tangible losses” despite Jack Lew’s promises.

 

http://floppingaces.net/most_wanted/russian-retaliation-putin-orders-ban-on-all-food-imports-from-sanctioning-countries-for-a-year/