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EU Ready to Take ‘Retaliatory Countermeasures’ Against US Over Russian Sanctions

  • EU Ready to Take ‘Retaliatory Countermeasures’ Against US Over Russian Sanctions
    In the latest signal of a potential trade war between the US and Europe, German Economy Minister Brigitte Zypries has once again lashed out at the US anti-Russian sanctions program, stating it violates international law and punishes European firms, and called on the European Union to consider countermeasures against Washington.

    Speaking to local media, Zypries said the US could not punish German firms on the mere basis they were doing business with — or in — another country. While she stressed a trade war between the two Western giants was an unwelcome prospect, she made clear Europe remains ever-ready to take “retaliatory measures” in response to US intransigence.

    “We consider this as being against international law, plain and simple. The Americans can’t punish German companies because they have business interests in another country, but unfortunately that is exactly what they are doing. That means that it is right that the European Commission now considers countermeasures,” she said.

    The latest sanctions bill will fine businesses found to be helping Moscow expand and enhance its energy export pipelines, theoretically leaving European energy firms open to harsh penalties purely for having ties to Russian firms. While President Donald Trump is yet to give his assent, former White House Communications Director Anthony Scaramucci said July 27 Trump is certain to either sign the bill or negotiate an “even tougher deal” against Russia.

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August 3, 2017 - Posted by | Economics, GeoPolitics | , , , , ,

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