As we warned previously, it appears Russia is stepping up its sanctions-retaliation confirming its threat that "US will feel tangible losses."
- *PUTIN ORDERS GOVT TO PREPARE RETALIATORY SANCTIONS: RIA
- *PUTIN ORDERS GOVT TO READY STEPS IN RESPONSE TO SANCTIONS: IFX
- *PUTIN: RETALIATORY MEASURES SHOULDN'T HURT RUSSIA CONSUMERS:IFX
Russian stocks and currency are sliding this morning, not helped by this announcement. Of course, Putin has already put pressure on major US companies such as MSFT, IBM, MCD, INTC, AMD, and car manufacturers. And as far as "isolation" - the signing of a 5-year trade agreement with Iran would suggest there are still plenty of nations willing to work with Putin.
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