Ash sees no near term prospects for sanctions moderation on Russia

2016/2/9 19:24:47

Ash: “…Russian actions in Syria, over Turkey (interfering in domestic politics over the Kurdish issue) and in Germany (the Russian media attempts to play up tensions over the migrant issue) have certainly not helped their cause - if anything they will have hardened Merkel's view, and aligned her even more with the more hawkish US position.”


 

 

 

 

 

 

 

 

LONDON, Feb 9, 2016 (UBO) – Responding to Russia’s increasing pressure on the EU to loosen economic sanctions, Nomura International’s chief emerging market economist Timothy Ash offered the following comments at 17:43 today:

 

The Russians are clearly trying to spin all this in the direction of some sanctions moderation. The Munich security conference at the weekend will be interesting to see if the Russians are prepared to offer some meaningful concessions over Ukraine. Frankly, I think Russian actions in Syria, over Turkey (interfering in domestic politics over the Kurdish issue) and in Germany (the Russian media attempts to play up tensions over the migrant issue) have certainly not helped their cause - if anything they will have hardened Merkel's view, and aligned her even more with the more hawkish US position. I still don't see prospects for near term sanctions moderation on Russia - unless we see major concessions at this stage over Ukraine.  That said the Russian MOF move over the sovereign new issue perhaps is the back way for Russia to force sanctions moderation by breaking the long term financing noose around the economy.

 

 

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** The views expressed above do not necessarily represent the house views of NIplc**

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