The United States and the European Union responded to Sunday’s Crimea referendum – which overwhelmingly backed union with Russia – by imposing sanctions on Russia. So far, 21 Russian and Ukrainian officials, allegedly responsible for the sovereignty transgressions, have been slapped with asset freezes and travel bans. EU leaders will meet again on March 20-21 to discuss possible additional sanctions
Sanctions and retaliation are obviously a negative sum game. If countries stop their cooperation in certain areas, both sides lose. Sanctions are part of a political game of escalation in which both sides signal how much value they put on an …read more
Source: Bruegel
