US sanctions against Moscow affect not only Russia, but also other countries, especially in Europe. Thus, EU states should become politically active to protect their companies that could lose billions as result of Washington’s restrictive measures, political observer Eduard Stelner wrote for the Austrian Die Presse newspaper.
The newly introduced US sanctions against Russia are unfolding their domino effect, as the Europeans know that they are no longer immune to their impact, Eduard Stelner wrote.
To prove his point of view, the analyst cited the US Treasury Department according to which the ban on doing business with sanctioned Russian entrepreneurs is no longer limited to US citizens and may also affect non-US citizens “who knowingly facilitate significant transactions” with sanctioned individuals and organizations.
Meanwhile, more and more business organizations “are trying to put pressure on Western politicians to take action against this poisoned situation,” Stelner noted.
Most recently, the Association of European Businesses (Aebrus) called on Brussels to undertake decisive measures in order to avoid the drastic consequences of US sanctions on European businesses.
A corresponding paper sent to the EU in Brussels and accessed by Die Presse says that the sanctions have come “unexpectedly” for European companies and that the companies doing business with Russia “are extremely worried amid the possible consequences.”
According to the document, European firms might suffer “serious damage” as result of the restrictive measures. Some companies expect a 20 percent drop in sales, difficulties in financial transactions and higher costs with regard to risk management.
Thus, Aebrus has called on decision-makers in the EU and to protect European companies in Russia from US sanctions, Stelner noted.
In particular, it urged EU authorities “to find a political solution that prevents the further deterioration of international relations, global trade and foreign direct investment.”
On April 6, the United States government rolled out new sanctions against Russia, saying the move was over Moscow’s alleged “malign activity around the globe.” The sanctions hit senior government officials and lawmakers, as well as major private and state-owned companies and their owners.
Sourse: sputniknews.com
