Kosachev: economic pressure from the U.S. to Europe contrary to American ideals of freedom

MOSCOW, October 27. Economic pressure the United States to the EU is contrary to American ideals of freedom. This was stated at a meeting of the U.S.-Russia business Council in new York, the head of the Federation Council Committee on international Affairs Konstantin Kosachev, according to the press service of the upper house of the Russian Parliament.

“Such pressure, in principle, contradict norms of the WTO and preached by the United States to the ideals of economic freedom and globalization,” said the Senator. “The real extent of the consequences of such a policy for the Europeans – especially in the long run is yet to be assessed. But today independent experts, in particular from the Austrian Institute of economic research say about the loss of at least 100 billion euros and 2 million jobs”, he added.

The Senator said that already “more than a year the administration of (Barack) Obama is taking deliberate steps to weaken the Russian economy and the achievement of a certain “isolation” of our country”, explaining this is a purely political objective “to seek changes in the approaches of Russia in the Crimea and the South-East of Ukraine”. In fact, “most of have fallen under the sanctions pressure from the US Russian companies – direct competitors of American commercial interests on the world markets of weapons and energy.” “It is a fact of unfair competition is evidence of obvious insecurity to long-term economic cooperation in the face of certain biased, and sometimes just the irresponsible behaviour of the second economy in the world”, – said Kosachev.

According to the parliamentarian, “the temptation today to protect in circumvention of WTO principles domestic producers” will turn to the U.S. “significantly greater losses in the long term”, and more importantly, will undermine the credibility of the country “as a reliable partner in international transactions”.

Sanctions against Russia

The U.S. and the EU began to impose sanctions against Russia in connection with events in Ukraine and the reunification of the Crimea with Russia in March 2014. Today, the US sanction list includes 87 names, 49 Russian companies, banks and organizations, and proclaimed the Donetsk and Lugansk people’s Republic and their structure. In the lists of the European Union were 151 people and 37 entities. Sectoral EU sanctions apply to 20 Russian financial, oil and defense structures.