Will Obama's Russian Actions Hurt the Global Economy?

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By USDR

 

 

After Russian officials laughed off the first round of sanctions imposed by the United States — and amid fears that Russia may encroach further into Ukraine — President Obama announced on Thursday that he is “now moving…to impose additional costs on Russia.”

 

 

Among other steps, Obama said he signed a new executive order on Thursday “that gives us the authority to impose sanctions, not just on individuals, but on key sectors of the Russian economy. This is not our preferred outcome,” he said.

 

 

“These sanctions would not only have a significant impact on the Russian economy but could also be disruptive to the global economy.”

 

 

Obama said “further escalation” by Russia will only lead to its further isolation from the international community.

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