By all appearances, anti-Russian sanctions have become a constant of international life. However, a new reality is emerging in Russia’s economic relations with the West. Economic interaction is growing, despite anti-Russian sanctions, and increasingly penetrates strategic fields. This is happening because sanctions affect the interests of many key Western figures who are beginning to feel them as a burden.
Last week, right before Foreign Minister Sergey Lavrov's diplomatic visit to Italy, Rome announced that it would temporarily block the renewal of EU sanctions against Russia. In the meantime, the issue with Ukraine's refusal to repay its debt to Russia has not been resolved, and it became clear that a compromise was not likely to be found before the end of the year. Finally, another important development was the change in Russian legislation that now establishes the priority of national law over international court rulings.
Last week was devoted to the G20 Summit in Turkey, mourning for the victims of the terror attacks in France and Egypt, and the search for a joint approach to fighting international terrorism. Despite the clear commonality of the global terrorism problem and the prospects for a joint solution, each of the great powers continues to play its own game.
Russia can help Congo achieve stability and prosperity. It has a history of engaging with the country during its early days of independence in the 1960s. It also has expertise in extracting the minerals that could make Congo prosperous. And it has a willingness to help Africa’s second-largest country end its civil war.
A lot of the work that Belarus and Africa have put into expanding trade in recent years has amounted to laying groundwork that will generate future rewards. Given the enthusiasm the two sides are showing about increasing their commercial ties, it’s a good bet that the groundwork will lead to tangible benefits sooner rather than later.
When Greece entered the Eurozone in 2001 it was experiencing incredible euro-romanticism, and the main slogan would be ‘We have nothing to share’. The latter was based on the illusion that the invisible hand of Europe would be equally generous to all of its children. However, soon it turned out that despite the common currency the economies of the EU members are not equally competitive, and they do not benefit equally from the common market and the currency union.
Russia is ready to soften the food embargo, to finance major projects in Greece and participate in privatization. Experts, however, believe that the gradual normalization of relations with Brussels is more to the advantage of Moscow than an open split in the EU.
Russia is ready to soften the food embargo, to finance major projects in Greece and participate in privatization. Experts, however, believe that the gradual normalization of relations with Brussels is more to the advantage of Moscow than an open split in the EU.