Russia is 2nd & they are.getting sanctioned & you can see they dont give a dam about it !
Hope u know well about it , they are.doing what & when they want at thier will from sirya to turkey then north korea , & then iran all they do is to give a dam about it ?lol
Its a bitter reality which u ill know once india run through your so.called little economic paradise after japan in asia ?lol
More Russia sanctions needed as current ones not working: Lithuanian minister ...
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Why the sanctions against Russia probably won’t work
By
Steven Mufson April 29, 2014
Igor Sechin, chief executive of state-controlled Russian oil company Rosneft, was named by the U.S. government as one of the individuals targeted by sanctions against Russia. (AP Photo/RIA-Novosti, Alexei Nikolsky, Presidential Press Service, File)
Correction: An earlier version of this story contained incorrect figures for Russia's daily oil exports and the annual revenue they generated. This version has been corrected.
Do economic sanctions work?
In Russia, maybe not. Russia is sitting on roughly half a trillion dollars in foreign exchange, and it exports about 7.5 million barrels a day of crude oil bringing in about $300 billion a year — not including its sales of natural gas.
It has will as well as means. Russian President Vladimir Putin seems content to suffer some economic damage for the sake of correcting what he sees as a historical wrong and bringing Crimea and perhaps more of Ukraine back into the Russian fold.
“The whole idea that we are going to defeat Russians by imposing hardship on them boggles my mind,” said Clifford Gaddy, a Russia expert at the Brookings Institution, noting that the Russian economy contracted 40 percent after the fall of the Soviet Union.
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“It’s not a matter of how much pain you can impose, but how much they can tolerate. And how much they can tolerate depends on the motivation for behavior,” he said, adding that Russia’s dispute with the United States and Europe was a “matter of national interest and survival” and not just greed.
This is bad news for foreign companies operating in Russia for whom the gradual tightening of sanctions on Monday by the United States and Europe is worrisome. So far the Obama administration has tried to zero in on top officials and advisers to Putin. And trade with Russia outside the energy sector is relatively small; U.S. trade with Russia accounts for less than 1 percent of U.S. overall trade.
Still, some international companies have big stakes there.
The biggest U.S. investor in Russia is Exxon Mobil, which has an oil and gas production facility off Sakhalin Island in northeastern Russia and which has joined with Russian oil giant Rosneft to explore the country’s Arctic region. It also has an operation extracting natural gas from complex geological formations. Russia accounts for about 6 percent of Exxon Mobil’s global production, according to oil analyst Pavel Molchanov at the investment firm Raymond James.
London-based oil giant BP is even more exposed to Russia. It owns a 19.75 percent stake in Rosneft, whose chief executive Igor Sechin was just added to the U.S. sanctions list. The stake is valued at about $13 billion, about 9 percent of BP’s total market capitalization. The Rosneft holding also accounts for about 30 percent of BP’s production, 36 percent of its reserves and contributes about 15 percent to the firm’s net income, Molchanov says.
Royal Dutch Shell has a stake in a Gazprom oil and gas field in Siberia and is a partner in Sakhalin 2, which has a liquefied natural gas terminal that in 2012 supplied a tenth of Japan’s gas needs. The company’s chief executive, Ben van Beurden, in Russia for the 20th anniversary of the project, met Putin on April 18 to discuss expanding the facility.
We also know that this is going to be a project that will need strong support to succeed,” he said, according to Russian media. “So one of my purposes of meeting with you, Mr. President, is to also secure support for the way forward on this project.”
Weatherford, a U.S. oil services company, is also deeply involved in Russia. As of March 2014, Weatherford had 346 rigs, 74 percent of its international rig count, operating in Russia, Molchanov said.
Outside the energy sector, international companies with investments in Russia range from those selling luxury consumer goods to those investing in other natural resources. Putin, like other countries’ leaders, has insisted that automakers have certain levels of domestic content if they are selling in Russia. Ford and General Motors both have plants in Russia.
Its not that once any tom.dick n.harry puts up a stupid stamp & shot to any one with sanctions no its not like that ?
Hope you remember pakistan was sanctioned severl times whats the result then we became more established militray & nuclear power !
Your economic progress is good for you , but that not means it will buy you a place in world affairs ?
You ill still be , sitting behind way back to pakistan cause , world follows the might , not what you have in.your dam pockets
Biggest of examples are germany & japan they are really world economic powers but been slaved to US & UK allience since decades .
Respect the power , bow down , thats what they been told to do , USA not care what the.hell they done to thier economies when ever ,where ever it wants as.much both.so.called economic powers has to give always & ever !
Its not a dam.rant its a reality ,pls just ask some one .about me , before trying to catch my horns , it can be very deadly trolling , If I started up ! Lol
But as nation ,.I respect your progress , my point is still thats not take you into top 50 economies in.this world , & you ill always bullied by INDIA cause they have the power to run through you any time they want ?
But for us they know well they will never ?lol
