["The Russian president also said that all regional integrations like the Russia-led Eurasian Economic Union with Belarus and Kazakhstan shouldn't isolate, but complement, global institutions." ***That captures the essential fact, and should dispel any confusion in this regard, that Russia is very much a component of the global (capitalist) economic system, and keenly aspires to remain so, regardless of its much aggravated conflicts, and contests, with most other leading global players.***]
I/III. Ukraine, Putin and the options that remain Everett Rosenfeld | @Ev_Rosenfeld 20 Hours Ago While reports circulate that Russian troops with heavy equipment are moving into eastern Ukraine, experts say the West is largely out of economic ways to retaliate against the Kremlin. There are only three sectors that matter much to Russia's political elite--military weaponry, banking and energy--and the U.S. and Europe are hard-pressed to find new ways to penalize those industries in ways that aren't overly drastic, according to Lauren Goodrich, senior Eurasia analyst at global intelligence and advisory firm Stratfor. "There's nothing that isn't a nuclear option left on the table," she said. "There isn't too much more to do." Pro-Russian rebel military vehicle with Russian flag on top of it, rolls towards Donetsk, eastern Ukraine, Nov. 10, 2014. Mstyslav Chernov | AP Pro-Russian rebel military vehicle with Russian flag on top of it, rolls towards Donetsk, eastern Ukraine, Nov. 10, 2014. With a ban on weapon sales, the Russian military sector has been hit about as hard as it can be, she said. Meanwhile, additional energy or financial sanctions would have massive global implications: The U.S. and Europe could ban energy companies' operations in Russia, but the Western business community would never allow that to happen, experts said. Read MoreUkraine: The pain is far from over "The U.S. business community does not want to go down that road," said Donald Jensen, fellow at Johns Hopkins University's Center for Transatlantic Relations. "And the EU especially doesn't want that." On the financial industry side, sanctions could bar Visa, MasterCard and SWIFT (which manages international money transfers) from operating inside Russia. Such actions "would be a big problem for Russia," Goodrich said, explaining that they would virtually shut down the nation's digital commerce because that's "one of those sectors that takes years, if not decades, to build." Such drastic measures could become possible if Russian President Vladimir Putin were to order a major incursion into the heart of Ukraine, Jensen said. Politicians have floated the idea of minor sanctions, such as travel restrictions on more Russian officials, but these are unlikely to have any effect, experts told CNBC. Ineffective, or otherwise, new sanctions may be on their way, according to some international observers. As violence intensifies in the far east of Ukraine, "Brussels and Washington will hold Russia chiefly responsible, and they will expand existing sanctions in the coming months. This will not, however, change Putin's policy or calculus in Ukraine," Alexander Kliment, director of Russia and EM research at Eurasia Group, wrote in an email to CNBC. One way to bolster existing sanctions' impact would be a law that permanently codifies them. Many expect such a bill to be passed by the U.S. Congress--especially when Republicans take control of the Senate in January--but it is unclear whether President Barack Obama would sign it. "Once you pass a law, it's hard to repeal a law," Jensen said. Read More Ukraine economy in 'free fall,' banking group says But even that move could be ineffective without coordination with Europe--which is far from a sure bet. "If the U.S. does it, it doesn't mean the Europeans will follow suit. And as long as it's just us, the action remains weak," Goodrich said. "You have to get the Europeans on board, and it's not an option for them." The best course of action to keep economic pressure on Russia, both Goodrich and Jensen said, would be to maintain the current sanctions for years to come. But Europe may be less inclined to renew its restrictions when they expire next year, they said. --CNBC's Dina Gusovsky contributed reporting. Everett RosenfeldStaff Writer II/III. http://rt.com/business/205443-putin-interview-g20-australia/ 'Economic isolation breach of intl law': Top 5 takeaways from Putin ahead of G20 Published time: November 14, 2014 10:23 Edited time: November 14, 2014 14:12 Russian President Vladimir Putin (RIA Novosti/Mikhail Klementiev) Vladimir Putin says the G20 must address global imbalances together, and economic isolation, especially in the case of sanctions, which not only leads nowhere but is a crude violation of international economic law. Here are the Russian president's top takeaways he gave in an interview to TASS ahead of the G20 summit being held in Brisbane, Australia from November 14-15. Full speech: Putin on G20: Russia sanctions contradict club principles G20 great for ground work, but decisions often just hot air Putin believes the G20 is still a good and relevant platform for world leaders, however, decisions at the summit are often nothing but words. Decisions made there are only carried out when there are in line with the interests of certain global players, like the US. Decisions are neglected if they don't fit the agenda of an individual power. An example is when US Congress blocked the IMF quota, which was intended to enhance the role of developing economies and redistribute quotes. That move was counterproductive, Putin said. "The very fact that US Congress has refused to pass this law indicates that it is the United States that drops out of the general context of resolving the problems facing the international community," the president said. "Everyone must understand that the global economy and finance these days are exceptionally dependent on each other," he said. US sanctions violate the very system they created Sanctions levied against Russia are against the norms of international trade and the core principles of the G20, as they can only be introduced via the United Nations, Putin said. Sanctions are "against WTO principles and the General Agreement on Tariffs and Trade, the GATT. The United States itself created that organization at a certain point. Now it is crudely violating its principles," Putin explained. Interconnected economy: What hurts us hurts you Sanctions against Russia have targeted the finance, energy and weaponry sectors of the economy. Russia's retaliatory sanctions to ban agricultural imports are having a colossal ripple effect on jobs, social sectors, and growth. This is especially pertinent to Europe, which is feeling the squeeze of the agricultural export ban to Russia, one its biggest markets. "Everyone must understand that the global economy and finance these days are exceptionally dependent on each other," Putin said. Germany's economic growth is an example of financial blowback from sanctions with Russia. US-led trade pacts will create global imbalance Putin believes that the creation of the 2 US-led trade pacts - one Transatlantic and the other Transpacific - will only create more global imbalance. The US-led Trans-Pacific Partnership (TPP) doesn't include China or Russia. READ MORE: Secret trade agreement covering 68 percent of world services published by WikiLeaks "Of course, we want to get rid of such imbalances, we want to work together, but this can be achieved only through joint efforts," Putin said. New economic associations should complement existing institutions All new emerging economic blocks like BRICS and the so-called 'new G7', which in addition to Brazil, Russia, India and China also includes Indonesia, Turkey and Mexico, should come as something complementary to the existing groups, Putin said. According to purchasing power parity (PPP) BRICS nations have a combined GDP $37.4 trillion, more than the G7's at $34.7 trillion, Putin said. However, its economic girth doesn't give it the right to start running its own polic "And if we go and say, 'No, thank you, we are going to do this and that here on our own, and you can do it the way you want it,' this will only add to the imbalances," Putin warned. ***The Russian president also said that all regional integrations like the Russia-led Eurasian Economic Union with Belarus and Kazakhstan shouldn't isolate, but complement, global institutions.*** [Emphasis added.] III. http://news.yahoo.com/putin-put-notice-g20-summit-end-ukraine-crisis-030926230--business.html At G20 summit, U.S. and Europe blast Russia over Ukraine Reuters By Ian Chua and Matt Siegel 21 minutes ago By Ian Chua and Matt Siegel Related Stories Ukraine and Russia take center stage as leaders gather for G20 Reuters G20 summit won't be a talkfest: Australian PM AFP Russian chill permeates G20 summit AFP Russia to G-20: We're here. So are our warships. Associated Press G20 finance ministers deliver on global growth goal: Hockey Reuters BRISBANE Australia (Reuters) - U.S. President Barack Obama said on Saturday that Russia's aggression against Ukraine was "appalling" and a threat to the world, while European nations threatened further sanctions against Moscow if it did not end the flow of weapons and troops. Speaking on the sidelines of the G20 summit in Brisbane, Obama placed security and climate change at the center stage of the leaders meeting, overshadowing talks on global economic growth. Obama said the United States was at the forefront of "opposing Russia's aggression against Ukraine, which is a threat to the world, as we saw in the appalling shoot-down of MH17". European Council President Herman Van Rompuy, also at the G20 summit, said Moscow must stop supplying weapons and troops to Ukraine, pressure rebels to accept a ceasefire, or face additional sanctions. Europe's foreign ministers will meet on Monday to assess the situation in Ukraine and whether further steps including additional sanctions were needed against Russia, he said. "Russia must stop the inflow of weapons and troops from its territory into Ukraine and Russia must withdraw those already present," Van Rompuy told a news conference. Russian President Vladimir Putin is attending the meeting and he almost certain to come under intense diplomatic pressure to change tack on Ukraine. "I want to restate that the European Union continues to believe that there can only be a political solution to the crisis. We will continue to use all diplomatic tools, including sanctions, at our disposal," said Van Rompuy. Ukraine's pro-Western leaders and NATO have accused Russia of sending soldiers and weapons into eastern regions of Ukraine to help pro-Russian rebels launch a possible new offensive in a war that has killed more than 4,000 people since April. Russia denied it was involved in a recent escalation of military activity in Ukraine and supported the implementation of the ceasefire agreed in Minsk in September. "We are not involved," Kremlin foreign policy aide Yuri Ushakov told reporters at the G20 meeting. SECURITY, CLIMATE, NOT ECONOMY G20 host Australia had hoped that the two-day summit would focus on global economic growth, not security or the environment. But the comments from Obama and Van Rompuy suggest that security will be the dominant theme. Obama also said the United States would renew commitment to its strategic pivot to the Asia-Pacific in comments seen as a veiled warning to China. Obama insisted that Asia's security order must not be based on "coercion or intimidation ... where big nations bully the small, but on alliances for mutual security". He did not explicitly point the finger at China, but there was little doubt that he was alluding to Beijing's maritime disputes and growing concern about its military build-up. Despite Australia's reluctance to allow climate change on the summit agenda after it abolished a tax on carbon emissions, Obama spent a large part of his speech urging action on the environment. He pledged a $3 billion U.S. contribution to an international fund to help poor countries cope with the effects of climate change. Earlier this week, Obama announced a climate deal with China. The United States will strive to cut total greenhouse emissions by 26-28 percent from 2005 levels by 2025, while China will aim for a peak in greenhouse gas emissions by 2030. Highlighting Australia's exposure to climate change, Obama said longer droughts and more wildfires were likely. "The incredible natural glory of the Great Barrier Reef is threatened. Worldwide this past summer was the hottest on record. No nation is immune and every nation has a responsibility to do its part," he said. But Australia stuck to its economic script. A plan to increase global economic growth by an additional 2 percentage points over the next five years was on track, Australian Treasurer Joe Hockey said. "This ambition translates into about $2 trillion in additional global economic activity and millions of new jobs," he said. (Additional reporting by Jane Wardell, Matt Spetalnick and Lincoln Feast in Brisbane; Writing by Michael Perry; Editing by Raju Gopalakrishnan) -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at http://groups.google.com/group/greenyouth. For more options, visit https://groups.google.com/d/optout.
