The European Union on July 29 agreed to more severe sanctions against Russia in response to its continued promotion of instability in eastern Ukraine. The U.S. quickly followed suit with its own set of expanded measures.
Yet the consensus among economists and political analysts is that the sanctions fall short of the measures required to curtail Russia’s destabilizing tactics in Ukraine.
The moves represent the toughest economic restrictions imposed against Russia to date, and the first by the EU towards so-called “stage 3” sanctions that target the entire sectors of the Russian economy, especially the key ones of energy, defense and finance.
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