Destinations Magazine

America’s New Economic Sanctions May Hurt Russia’s Recovery

By Stizzard
America’s new economic sanctions may hurt Russia’s recovery

IN LATE June Daimler, a German carmaker, broke ground on a new Mercedes-Benz plant north-west of Moscow. "We are confident in the long-term potential of Russia," Markus Schäfer, a board member, said at the ceremony. The €250m ($ 296m) factory marked the first investment by a Western carmaker since America and the European Union slapped sanctions on Russia as punishment for its aggression in Ukraine three years ago.

After more than two years of recession, Russia is projected to return to growth this year. Until recently, the chill that sanctions put on the investment climate seemed to be thawing. "People had begun to forget about them," says Chris Weafer of Macro-Advisory, a Moscow-based consultancy. But in late July America's Congress voted to expand the sanctions. Vladimir Putin responded by demanding that America reduce its diplomatic staff in Russia by some 750 people. (Most of those affected are likely to be Russian employees.) He also shut down the American diplomatic dacha in...

The Economist: Europe
America’s new economic sanctions may hurt Russia’s recovery

You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Easy Breezy Summertime Looks

    Easy Breezy Summertime Looks

    Mid-Atlantic states are notoriously known for their humid weather in the summer. They rival the swamplands of Florida. The saying, "it's not the heat, it's th... Read more

    7 hours, 32 minutes ago by   Bridgetteraes
    FASHION, LIFESTYLE
  • The Xroadie Files

    Xroadie Files

    Revbjelde – Severance Mordecai Smyth – Mellotron, Andy Prince – Chapman Stick, Guest Musicians Severance slow melodic sounds that just seem to work... Read more

    11 hours, 32 minutes ago by   Ripplemusic
    ENTERTAINMENT, MUSIC
  • Trump and Putin Might Have Thought Helsinki Summit Was Private, but...

    Trump Putin Might Have Thought Helsinki Summit Private, Intelligence Agencies from Finland Sweden Likely Reported Almost Real Time

    Donald Trump and Vladimir Putin might have thought their meeting in Helsinki yesterday was virtually private, but that almost certainly was not the case, report... Read more

    11 hours, 53 minutes ago by   Rogershuler
    LEGAL, SOCIETY
  • Learn the Language of Your Brows "Browmoticons" | Happy Brows

    Learn Language Your Brows "Browmoticons" Happy

    Brows speak volumes about yourself, you can communicate with other people without even speaking with just using your eyebrows. A subtle arch can reflect your... Read more

    12 hours, 25 minutes ago by   Rayrose Camille Samson
    HAIR & BEAUTY, LIFESTYLE
  • Wildacres Report

    Wildacres Report

    That was the week that was. About a hundred writers convene on the mountain for a week of workshops, music, partying, and quite a lot of silliness. Read more

    13 hours, 2 minutes ago by   Vickilane
    CREATIVITY, PHOTOGRAPHY
  • Ultra-gorgeous Gala Montenapoleone Trunk Show and Bridal Party

    Ultra-gorgeous Gala Montenapoleone Trunk Show Bridal Party

    Love4Weddings Love4Weddings - A Stylish Wedding Blog Σήμερα, σας παρέχουμε μια μικρή γεύση από το ονειρικό trunk show του οίκου Gala Montenapoleane και του... Read more

    14 hours, 2 minutes ago by   Love4weddings
  • The Ultimate Romantic Wedding Inspiration | Love4Weddings Bridal Party

    Ultimate Romantic Wedding Inspiration Love4Weddings Bridal Party

    Love4Weddings Love4Weddings - A Stylish Wedding Blog Σε αποχρώσεις του απαλού ροζ και του αστραφτερού χρυσού, στολίστηκε ο υπέροχος εσωτερικός χώρος του... Read more

    14 hours, 2 minutes ago by   Love4weddings

Magazines