CFR Daily News Brief 9/12 EU Widens Russia Sanctions

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Daily News Brief September 12, 2014

Top of the Agenda EU Widens Russia Sanctions The European Union extended its sanctions on Russia (NYT) and rebels in eastern Ukraine on Friday, bolstering its blacklist of companies and individuals and imposing fresh measures against the country's oil and defense sectors. Moscow said it was prepared to retaliate (FT) with a new list of embargoes on imports of consumer goods and second-hand cars from western countries. Meanwhile, Ukrainian troops and Pro-Russia rebel forces facilitated a prisoner exchange (AP) on Friday as part of a cease-fire deal. Analysis "The apparent Russian reprisals come right as Washington and Brussels are clamping down themselves. If fully implemented, the new restrictions to be outlined Friday would take aim at, among other things, Russia's future ability to offset declining oil production from mature Siberian fields with exotic new discoveries," writes Keith Johnson for Foreign Policy. "A falling rouble and a Kremlin-imposed ban on food imports from America and Europe means that inflation could hit 8% next year. That may spur a level of social discontent which the war itself has not," writes the Economist. "In short, Europe can do without Russian gas; it is Moscow that cannot afford to carry through its threat. European leaders should not argue themselves out of tougher actions to stop Mr Putin's military adventurism in Europe's east. Someone needs to point out that the emperor has no clothes," writes Matthew Bryza for the Financial Times.