Smart tactic if it cripples some smaller countries. I predict the sanctions end before Christmas. At least from the EU
Stupid tactic. Russia is the “small country” here. They will lose any economic war. The Russian economy is the size of Italy with about 50% of their income from oil and gas. Cutting economic ties just gives the EU less reason to oppose sanctions. Putin has painted himself into a corner and is out of options.
Speaking of Italy:
From today’s NYTimes
Italy Falls Back Into Recession, Raising Concern for Eurozone Economy
http://www.nytimes.com/2014/08/07/business/international/italy-falls-back-into-recession-raising-concern-for-eurozone-economy.html?_r=0
As I said, Europe’s economy is quite fragile, and more interconnected now than ever before. It won’t take a lot to produce a shock, especially in the smaller countries.
~Stupid tactic. Russia is the “small country” here.~
Check your facts. As for 2011 Russia was the top global market for apples consuming 27% of ALL apples exported worldwide.
I don’t have numbers for this year, but being cut off from this market is certainly a nightmare for any apple dealer for sure.