EconoMonitor : EconoMonitor » The Russia Sanctions Cul-de-Sac:
"The Russia sanctions are likely to have an adverse impact on Russian, U.S. and Chinese economy and could push Europe to a triple-dip recession. A diplomatic solution could deter diminished global prospects.
Last March, President Obama initiated and expanded sanctions against Russia in financial services, energy, defense and related materials sectors. Meanwhile, China’s Ambassador to Germany Shi Mingde cautioned the West against sanctions, saying such measures could “trigger a spiral with unforeseeable consequences.”
In May, Russia signed a 30-year gas deal with China. The agreement between Russia’s Gazprom and China National Petroleum Corp (CNBC) was estimated to be worth over $400 billion. Moscow diversified its energy markets from the West to the East."
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