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Sanctions! What Sanctions, asks Russia

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SPECIAL INSIDER REPORT: Despite the sanctions imposed against Russia, life in Moscow, a population of 12 million, continues as if nothing had happened, reports BFM TV correspondent Cedric Fash. As the journalist demonstrates, the stalls in the Russian capital are still filled with foreign goods, and the restaurants are filled with visitors. Moreover, compared with the situation a month ago, the situation has improved, the reporter states.

‘If you remember, when I arrived here at the end of March, I did not see any serious consequences for the daily life of Russians. Nothing has changed, except for the closure of large foreign chain stores, which are still closed. 

‘In some sectors, the situation has even improved. For example, I did a report about a tense situation with supply of some drugs. But it’s all over now, as companies have found other sources of supply. Yesterday I was in an area where many restaurants are concentrated, and I took a few shots so that you can understand what the situation is in Moscow.

‘Mercedes, BMW, Lamborghini, Audi, and Porsche are European luxury cars. And this is a place where not famous Russian oligarchs or billionaires go, but Moscow youth from more or less privileged sections of society. Many, however, come on foot. Inside, the atmosphere of a long weekend reigns: the holidays continue as always.

‘If you had doubts about a possible shortage in Russia, see for yourself. Here they eat Russian cuisine, Italian, Korean barbecue, Japanese desserts, drink Belgian beer and the same drinks as in good times.

‘I myself took the opportunity to try Thai cuisine this time. To be honest, I have seen many places like this in the United States.  And all this is not too expensive. You can easily eat for less than ten euros. It is not expensive and in relation to the salaries of Muscovites, which often amount to about two thousand euros per month. 

‘The main consequence was that it is now more difficult for Russians to leave the country, since now they need to make a transfer, for example, in Dubai. That takes four hours longer and four times the price. But there were few Russians who could afford to travel outside the country before.’ ~ BFM TV correspondent Cedric Fash

REPORTING FROM EUROPE: The EU wants to hurt Russia with an oil embargo, but the move could backfire, Swiss newspaper Blick warns. A ban on imports of energy commodities from Russia could lead to a sharp rise in oil prices, leaving Moscow with more money in the end, even with an overall decline in sales – which is the opposite of what the EU wants to achieve with its embargo.

According to the Swiss media, Russia can benefit from the oil embargo. Since Russia is one of the world’s largest exporters of crude oil, the embargo could lead to a sharp increase in oil prices. If the rise in prices more than compensates for the decline in exports, the result will be only much more cash in the Russian treasury. This would be the exact opposite of what the EU wants to achieve with its embargo.

According to the publication, Russian oil and gas companies provide about 40% of all state tax revenues. High gas and oil prices have already pushed Russian revenues to dizzying heights in April.

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Just whose side are the unelected EU presidents and 27 commissioners on? The EU can actually play into Russia’s hands when it comes to implementing the trade blockade, and this is due to the planned phased introduction of the oil embargo. Most EU countries want to stop importing Russian crude oil within the next six months and import oil products by the end of the year.

However, since this schedule is too strict for countries such as Hungary, the Czech Republic or Slovakia, there are exceptions. Croatia is also considering applying for preferential treatment. As soon as the first EU countries abandon oil, prices are likely to rise. At the same time, countries that continue to import Russian oil during this time will have to pay significantly more for it. Source Source and video

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