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Sunday, September 14, 2014

As The Sanctions' Noose Tightens, China Grabs Russian Energy Assets At Bargain Prices

When I wrote on August 28 that “Western sanctions are strangling the Russian economy,” I had second thoughts about using such strong language. Events of the last two weeks convince me, however, that I understated the case, especially with the introduction of new sanctions on Friday. The Russian economy faces a severe liquidity crisis, collapsing investment and a severe recession. Putin has jeopardized his “safe” European gas market and faces legal problems that he cannot avoid. His sanctions against the West have simply made his own people worse off.

go to Frobes.com

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