LINE

    Text:AAAPrint
    Economy

    Experts see no quick solutions to U.S. sanctions

    1
    2018-08-21 09:29:17Xinhua Editor : Mo Hong'e ECNS App Download

    With the United States recklessly wielding its sanctions on a number of countries of late, Russia has quickly responded by strengthening cooperation with other nations such as Iran and Turkey.

    Though the active interactions enable Moscow to establish closer ties externally, no major changes can be expected until fundamental problems are resolved, Russian experts said.

    ECONOMIC BLOWS

    The United States has lately gone further in its aggressiveness and slapped economic sanctions -- once after the next -- on several countries.

    On Aug. 7, the United States reimposed sanctions on Iran that it lifted just two years ago.

    On Aug. 8, Washington declared to take punitive measures against Russia that will affect almost all Russian state companies.

    On Aug. 10, it announced the decision to double the tariffs on steel and aluminum products from Turkey.

    "Sanctions - not only against Russia - are becoming one of the main instruments of the U.S. foreign policy," Director General of the Russian International Affairs Council Andrey Kortunov said.

    The heavy punches have immediately brought about chaos in these economies. Russia's ruble has plunged to its weakest since mid-2016 and Turkey's lira lost 25 percent of its value in just one week.

    The global economy is also taking a serious hit, with a universal depreciation in the currencies of emerging economies and fluctuations in the stock markets of developed countries, all in a chain reaction.

    "The measures are sensitive, because they are aimed at reducing the incomes of national economies. This is painful for any country," said Azhdar Kurtov, editor-in-chief of the National Strategic Issues journal published by the Russian Institute for Strategic Studies.

    Kurtov said the United States is trying to use economic means to force others to yield and follow its lead.

    CLOSER NEIGHBORS

    Common challenges make alignment possible, and Russia has been in closer-than-ever touch with its neighbors in the past few days.

    Right after the sanctions on Iran were announced, Moscow declared to consolidate its economic cooperation with Teheran and reiterated its determination to preserve and implement the landmark Iran nuclear deal, which was abandoned by Washington in May.

    During the visit to Ankara on Tuesday, Russian Foreign Minister Sergei Lavrov said that Turkey and Russia would take steps to enhance their strategic partnership and continue talks for cooperation on Syria. Moreover, the two sides are reportedly discussing the scenario of settlements in their national currencies.

    In addition, Russia, Iran, Kazakhstan, Turkmenistan and Azerbaijan have signed a new convention lately for collective use of the Caspian Sea.

    "Cooperation allows countries to act more efficiently and find productive solutions," Kurtov told Xinhua.

    He noted that the pressure of U.S. sanctions will also be reflected across regional organizations in which these countries are included and therefore other members will "be forced to coordinate their actions" to cope with the sanctions as well.

    Furthermore, the international community may also question the global status of the U.S. and seek more a pluralistic trade system if Washington continues to violate international law and harm the interests of others, he said.

    "It will not happen quickly, but the U.S. is gradually losing its dominant position," Kurtov said.

    NO QUICK SOLUTIONS

    Despite closer ties with other countries, Russia for the moment still has limited bargaining chips on the matter of the U.S. sanctions.

    Imbalanced trade between the United States and Russia has made retaliation from Moscow less intimidating to Washington.

    Experts say Russia is currently much more dependent on the West economically than the other way round.

    Russia should move to manage multiple risks and survive in an environment of extremely severe pressure, said Fyodor Lukyanov, editor-in-chief of Russia in Global Affairs magazine.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ?1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 桂林市| 富裕县| 太白县| 新兴县| 扬州市| 吉安县| 阿城市| 辽阳县| 色达县| 马关县| 定南县| 连州市| 平原县| 汉中市| 航空| 台南市| 嘉荫县| 永定县| 灵丘县| 岚皋县| 遂溪县| 乾安县| 囊谦县| 景宁| 应城市| 平阳县| 新源县| 肥西县| 佳木斯市| 云龙县| 河西区| 蓬溪县| 新竹市| 锡林浩特市| 灵寿县| 徐汇区| 庆云县| 彭泽县| 从化市| 连平县| 建阳市|