European Union sanctions on Russia

2014-09-15 Opinion Article

The packet of sanctions imposed upon the Russian Federation by the EU will present an attempt to stifle the financial capacity of Russian public businesses. Those suffering the hardest blows will be the Russian citizens, who will see how the State reduces its financial capacity at the same time that the gas companies lose resources and capacity of supply and extraction. In other matters, the Russian banking system will have to deal with isolation in financing in international markets.

What the EU and the US are forcing is a financial ‘corralito’ that will provoke Russia, together with its traditional allies, to create a parallel financial market with major powers not involved in the conflict, such as China, India and Iran amongst others. There is no hint of a doubt that these alliances will compete with the traditional financial channels currently in European and North American hands.

Right to vote and freedom of speech

With regards to the right to vote and freedom of speech, once more the European Union is acting against its democratic essence and against the principles born following the Second World War. The arguments put forward by the European Council are, once more, unacceptable from a legal point of view and would go against many fundamental rights enshrined in the Constitutions of many EU countries. That’s to say, if we were to apply these same principles to the citizens of the EU, the Council would have to also include penalties for those politicians who, in their sovereigns, peacefully exercise freedom of speech, defend Scottish independence, Catalonian independence or the annexing of Gibraltar from Spain.

Moreover, this is all happening in the strategic month of September, where Europe negotiates the purchase of gas for winter.


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