"Russia’s embargo on agricultural products from countries that backed US-led sanctions on Moscow could trigger a crisis in the Euro market."
It's not good for Europe, but it's going to be a lot worse for Russian consumers. They're going to be looking at some serious inflation there, possibly even shortages if they really go all the way with this. The Russian Federation is a big net importer of food.
Doesn't seem to be worrying them. They have just transferred to different sources. We will be the losers out of this. I have an idea that Washington is trying to sink the euro as well as harm Russia with all this rubbish. Two birds with one stone. Dax is in free fall. Businessmen are getting together and writing open letters saying this is gonna hurt us more than them and anyway, we should be talking not threatening. Russia keeps trying to be the peacemaker here but all we get from our lapdog politicians is 'Washington says so we must comply'. Makes me want to vomit. Remember that Putin is waiting for the great Winter to come. Things will settle down by themselves. Russians don't want a war.
The Russians are the ones who are going to have it rough, they better stop and take a good look at it first.
I don't know if this embargo will hurt the US, and don't believe that it will have any major effect on Russia. From what I have read, they are looking to import more from Chile (which has a large share of its agricultural products coming to the US), and boost domestic production (which I doubt will be incredibly successful without Ukraine). It seems like a useless game to me. If anything it might make our domestic supply costs go down as the US suppliers have to rely on the US market more to take in their surpluses.
A lot of you made some good points here. Russia needs to align themselves with warmer countries in order to bring in a similar quantity of food and other agricultural products. I've noticed that they've been buddie-ing up to Latin American countries the last few years. Maybe this was their plan all along. I think I read somewhere that Russia will be putting some military bases in Argentina.
Russia s just responding to NATO etc. There will be some turmoil n Europe but only for the short term. The real meat will come through Russian oil that goes to many of the countries in Europe. Now if that is affected we could see the price of oil going up and economies suffer.
