Business Groups Exhale On Sanctions

Thursday, 20 March 2014
The Hill

Business groups expressed relief Thursday at the White House’s new round of sanctions against Russia, arguing they strike the right balance between punishing Vladimir Putin and protecting the economy.

… Richard Sawaya of The National Foreign Trade Council said hitting Bank Rossiya appears proportional at this point. “This is a small private Russian bank. This is not the Russian central bank,” he said of the financial institution, which has about $10 billion in assets. “We are still not talking Iran-land. “Sawaya said that coordination with Europe has been “positive” but the administration should focus on giving Russia more incentives to back away from any further invasion of Ukraine.

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