The US and Russian presidents locked horns in earnest over their Ukraine dispute Thursday, March 20 with two sets of serious reciprocal sanctions. International financial circles warn that in their determination to outplay one another, the US and Russian leaders risk causing havoc in world trade centers. Financial experts assess US investments in Russia as amounting to $14 billion compared with an estimated $500 billion of Russian investments in the West. The US president has not yet touched the mountainous Russian assets in the West for fear of bringing western financial markets and banks crashing down. The London City which holds massive Russian assets, would bear the brunt of such action. Even the first, limited steps Obama’s directive initiated Thursday have already sent shock waves through the markets as financial institutions begin to move their money to “safe havens”. Russian assets held in Israeli banks will also be affected.
Posted on: Fri, 21 Mar 2014 07:02:27 +0000
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