Skip to comments.Putin ally suggests U.S. sanctions on his bank have backfired
Posted on 03/24/2014 12:22:37 AM PDT by kingattax
MOSCOW (Reuters) - An ally of Russian President Vladimir Putin who heads a bank that was hit by U.S. sanctions over the Crimea crisis suggested on Sunday the move had backfired by helping him win new clients.
Yuri Kovalchuk, chairman of Bank Rossiya, also used a rare television appearance to make clear that other wealthy Russians should show their patriotism during the crisis.
Kovalchuk is one of more than 20 Russians barred from entering the United States or holding assets there under sanctions imposed over Russia's annexation of Crimea from Ukraine, which Western leaders say is illegal.
Putin said on Friday he would open an account at Bank Rossiya. Kovalchuk, who was also hit by sanctions personally, said the bank had been "flooded with people" who had heard about Putin's plan and wanted to do the same.
(Excerpt) Read more at news.yahoo.com ...
Obama is like the kid who accidentally punches himself
All is well, our stock market isn’t tanking, our ATM cards work everywhere and we didn’t want to travel to America or Europe.
They don’t care if they can’t visit the West or shop there.
For sanctions to work, it must involve something they can’t replace at home. Whatever effects them, there is substitution.
And wealthy Russians probably had advance warning something like this might happen.
Given the limited commerce between the West and Russia in anything but oil and minerals, looks like Russians won’t miss very much. I’s just like we wouldn’t miss much Russian stuff if it disappeared.
putting on the ritz?
Putin on the Ritz!