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Costs? US Sales To Russia Hit Record High After Sanctions
Zero Hedge ^
| Tyler Durden
Posted on 07/05/2014 11:11:33 AM PDT by SeekAndFind
While it is all too easy to show the massive outperformance of Russian stocks (even after Carney's "sell" recommendation) as evidence that US sanctions were not 'punishing' as the mainstream media might suggest; this week's release of trade data shows the utter farce that the so-called "costs" imposed on Putin actually are. As WSJ reports, despite all the scaremongery and sanctioning, US exports to Russia in May hit $1.2 billion - a record high (up 21% from pre-sanctions). That will certainly teach them!!
As WSJ reports,
U.S. efforts to penalize Russia for its actions in Ukraine appear to have done little to stem exports of U.S. goods to the country.
The U.S. announced targeted sanctions against several Russian companies and individuals in March, but U.S. trade data published Thursday shows exports to the country were the highest on record at $1.2 billion in May.
(Excerpt) Read more at zerohedge.com ...
TOPICS: Business/Economy; Foreign Affairs; News/Current Events; Russia
KEYWORDS: exports; russia; sanctions; ukrainecrisis
What is even more impressive is the growth of trade between Germany and Russia. Business trumps politics. Economic reality eventually dictates policy. Those poor people in Ukraine are dying for nothing. Ukraine sits on the German-Russian axis and will also prosper. Those borders won’t mean much in twenty years.
posted on 07/05/2014 11:17:57 AM PDT
posted on 07/05/2014 11:22:05 AM PDT
by Grampa Dave
( Obama's Illegal immigrants = Instant new democrat voters!)
To: Grampa Dave
One of the best mutual fund managers in America invested heavily in Russia after the Obozites had their temper tantrum:
He remembers this conversation from a few years back...
The words "temper tantrum" should have been placed in quotes (WINK, WINK ).
When you add little to almost nothing it will still be almost nothing, but at record height. USA just isn’t exporting much to Russia. $1.2B sounds like a large sum, but it is still only 0.6% of US exports of May.
posted on 07/06/2014 2:50:21 PM PDT
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