EU chief: Russia could be cut off from markets, tech goods

[Omaha Steve]

Source: AP

By KARL RITTER and GEIR MOULSON

MUNICH (AP) — Moscow would have its access to financial markets and high-tech goods limited under Western sanctions being prepared in case Russia attacks Ukraine, one of the European Union’s top officials said Saturday.

The comments from Ursula von der Leyen, the head of the EU’s executive commission, came as tensions over Russia’s intentions toward Ukraine intensified. U.S. President Joe Biden said Friday he was convinced” Russian President Vladimir Putin has decided to invade the neighboring country.

“The Kremlin’s dangerous thinking, which comes straight out of a dark past, may cost Russia a prosperous future,” von der Leyen said Saturday during the annual Munich Security Conference, where U.S. Vice President Kamala Harris also spoke.

Von der Leyen said the EU’s executive arm has developed a “robust and comprehensive package” of financial sanctions with the U.S., U.K. and Canada.



European Commission President Ursula von der Leyen speaks at the Munich Security Conference in Munich, Germany, Saturday, Feb. 19, 2022. (AP Photo/Michael Probst)


Read more: https://apnews.com/article/russia-ukraine-joe-biden-business-munich-ursula-von-der-leyen-2c6fecfb1212c65338547bff96029f96

[Irish_Dem]

1. Putin is one of the richest men in the world. Does he care if he hurts the Russian people?

No one in the US seems to care that the GOP Covid policy killed many Americans.

[jimfields33]

3. No and once the gas stops going to europe, I'm not sure they'll have

Goods to give Russia anyway.

[Irish_Dem]

5. So Putin is holding a lot of cards.

[Lonestarblue]

6. Biden has already talked about redirecting US LNG to Germany.

The potential loss of Russian gas may also help EU nations decide to accelerate their efforts to develop alternative energy sources. Russia has a small economy, about the size of New York state, and it would suffer economically with the loss of gas exports.

Putin may have convinced himself through his ability to help get Trump in the White House and then Trump’s constant praise that he had more power than he actually does. Yes, he’s sitting on a nuclear arsenal, but using it leads to mutually assured destruction—not his goal. Who knows what his goal is, but he seems to be risking a lot with not just US sanctions but EU sanctions as well. He can still do business with China, but it is the much bigger markets and the financial systems of the West that will be closed to him.

[Irish_Dem]

11. Putin has cards he has not played yet.

Only time will tell how this plays out.

[Eyeball_Kid]

18. Both sides of the conflict have cards that they have yet to play.

Biden intentionally doesn't talk about them. That's one of the interesting things in recent news.

I'm mainly thinking that Russian cyberattacks are front and center, and that this notion is supposed to evoke fear in US citizens. No one discusses the US' ability to severely interfere with Russian communications systems-- and that's to Biden's advantage.

Reports were printed about a week ago that the Russian military is cutting fiber optic cables in the waters of northern Europe, and that the true reason that ships were "training" in Irish fishing waters a few weeks back was that the fleet was actually monitoring and mapping fiber optic trans-Atlantic cables. Putin will likely leave the cables alone or face debilitating counter-cyberattacks by US IT officers.

[paleotn]

9. They don't get all their nat gas from Russia...

and winter is winding down. Not saying it wouldn't be painful in degrees, but in no way catastrophic. On the same token, Russia won't be benefiting from all that foreign exchange. One of the few things keeping their economy afloat and paying for their bullets.

[paleotn]

7. So was Louise XVI

[Irish_Dem]

12. No sign yet the Russian people are dusting off the guillotines.

Putin most likely has contingency plans to prevent that from happening.

He is a master at sabotage and manipulation of people. Look at what he has accomplished here in the US with the help of the GOP.

[paleotn]

16. Few signs before the Soviet Union imploded...

and the Warsaw Pact regimes fell apart. He's certainly not stupid, but not a demigod or super hero either. Just a man, subject the the same hubris and foibles as the rest of us.

He did recognize and exploit the vulnerability in the west caused by social media. That avenue didn't exist 30 years ago when most information dissemination was the realm of professional journalism and not a legion of Jimmy Joe Bobs and their garage built, conspiracy machines all connected. The Russians played on Jimmy Joe Bob's innate racism and poor education to spread chaos. I'll give him a button for that, but he's still not superman. And his nation is still a gas station masquerading as a country, to quote the late John McCain.

[Irish_Dem]

17. Yes but he is an evil, ruthless, diabolical genius.

Who has played the West like a fiddle.

It was like stealing candy from a baby for him.

I am not counting him out yet.

And it is certain he has several escape plans in mind if it comes to that.

I also believe he has some other cards to play yet.

We underestimate him at our own peril.
Just like we underestimate Beijing.

[Demsrule86]

13. Yes, because it weakens him and he will end up with a bullet in his head in a ditch...I am sure

he has many enemies and rivals.

[Irish_Dem]

14. He has one of the world's best security teams.

Secure bunkers all over the world.

And an excellent set of escape plans.

He is KGB to the core and has thought all of this through.

[Irish_Dem]

15. Putin is a high functioning narcissist and sociopath.

If we could interview him, he would say that he can do just about anything and get away with it.

Which is based in fact.

Edit to add: Cornered sociopaths become very dangerous.

[ProudMNDemocrat]

2. Russia may have oil and natural gas, but no overall economy to speak of.

With the US at the lead, Russia would surely be cut off economically with any financial assets outside of Russia frozen. Can't do business without Rubles.

Not to mention the expulsion of Diplomats, closing of Russian compounds around the world, and so on. It may play a round of hardball for the time being, but be damaged more by the court of World opinion as an AGGRESSOR seeking the reforming of the old Soviet Union.

[SayItLoud]

4. The Russian people need to step up and oust Putin, HOW?

If he invades Ukraine there needs to be a full stop of everything Russia. Yes, the West will suffer but full stop is needed.

For those who say "but the Russian people will suffer", yes they will but not nearly as much as the Ukrainian people.

The buck stops with the aggressor and those who can affect the aggressor.

It's costing the West billions of $ every time Putin takes these aggressive actions. Nothing of consequence was done when he took Crimea and that was a big mistake on the EU and our part.

Don't let it happen again.

[BlueIdaho]

8. Cut them off of the SWIFT international money transfer system.

No money in, no money out. Let them choke on those rubles.

[paleotn]

10. Simply put, Putin's hand is really just crap, built on bluff.

He needs the industrialized west and east far more than we need Russia.