MOSCOW: US President Joe Biden and Western leaders have described"unprecedented" economic penalties and sanctions"with massive consequences" in the event Russia invades Ukraine.PUTIN, OIL AND GAS
The Kremlin said in response the move would be pointless since Russian officials are barred from holding wealth abroad and that it would damage diplomacy on the Ukraine crisis. Another potential sanctions target is the controversial Nord Stream 2 pipeline connecting Russia with Germany. With construction complete, it is set to double natural gas supplies to Europe.US, Germany step up pipeline warnings if Russia invades UkraineRussia has weathered waves of Western sanctions in the wake of its annexation of the Crimean peninsula from Ukraine in 2014, which hit the ruble and saw foreign investment dwindle.
The country also has a small external debt compared to other global powers and a large reserve of foreign currencies accumulated by the central bank. The initiative calls for Russian companies to replace banned imported goods - such as French and Italian cheese - with local produce, a measure that Putin described as an"opportunity".While the political elites have felt little to no pressure from Western sanctions, the Russian population has been taking the hit for years.
The future of Europe is threatened by the rise of Nazism in Ukraine. Stop it and it's backers in the US and UK. Prevent another apocalypse before its too late.
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