#Official Commentary of Olga Makeeva on sanctions policy of European Union

Liechtenstein, Norway, Georgia, Albania, Montenegro and, of course, Ukraine acceded to the decision to extend sanctions against the Crimea. “Mice cried, were stung but continued to eat a cactus”, the European Union`s actions with regard to Crimea must be called so.

Another portion of sanctions, which will do no good to the sanctioners, will aggravate degradation of the EU members` economies. It is noteworthy that, to put it mildly, not quite economically prosperous countries are also drawn in this senseless venture. Montenegro and Albania are not EU members at all, but only candidates. Georgia is not far from them, and it is needless to mention the black hole called “Ukraine”. Only Norway and Liechtenstein can be on this list by themselves.

I wonder whether risks from the imposition of sanctions have been estimated at all. Have economic and public image losses been calculated? I suppose not. The habit of beating the weak played a malicious trick on these countries, because such a rival as Russia turned out to be not weak and snarled. It snarled in such a way that all of sanctions initiators experienced it themselves: EU countries` losses are estimated at tens of billions, that raises serious concerns for economic stability in Europe.

It is no secret that most of the producers who lost Russian markets and as a result reduced production or went bankrupt, operated exclusively due to loans they will not be able to return, because they took them for future sales of their products. Risks of bankruptcy of large European banks proved a logical result, and there are such forecasts. And it looks like the collapse of the European Union as the guarantor of the member countries` economic well-being.

Europe had better stop, but no! – it continues to engage in self-destruction. And this is despite the fact that calls of the Parliament of Cyprus and the Italian regional councils of Veneto, Lombardy, Liguria and Tuscany to lift sanctions or reduce sanctions pressure, are becoming louder and more insistent. So did French parliamentarians, insisting on fallacy of EU policy which is not coordinated with economic opportunities and interests of the member countries.

At the same time, big European business still plans to invest in economy of Russia and Crimea, despite political games. Policy is policy but stable growth of economic performance is more important than populist statements of European officials. Thus, the consortium “German Initiative” plans to invest a little more than two billion euros in the development of high-speed main lines, French and Italian companies are going to engage in the cultivation of grapes and in winemaking in the Crimea.

The question arises whether the European Parliament will shoot itself in the foot and tumble down into the arms of the Transatlantic partnership, having repeated Ukraine`s fate when signing the Association agreement with the EU, and having received economic collapse, being totally dependent on American transnational companies. Or representatives of national economies will put pressure on the officials of the European Parliament and the latter will lift counterproductive and disastrous sanctions.

We will soon be able to see for ourselves what will win – reason and good-neighbourly partnership or empty ambitions and colonial memory.

Olga Makeeva, DPR People`s Council Deputy Chairman



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