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Russian President Vladimir Putin faced a chilly welcome to the G20 summit for his response to the Eastern Ukrainian conflict. International sanctions are working, but can Russia and Putin survive as the world’s enemy?
The international consortium proved to be distrusting and disapproving of the leader’s tactics in eastern Ukraine, warning more sanctions /4/be coming if Russia does not withdraw support. However, Putin did not flinch at the Western snub.
CNN said relations among major world powers have been strained because of the Ukrainian unrest. And majority of the national leaders have pushed for an interior conflict (Ukrainian only) minus exterior actors (like Russia). Western leader unrest also centered on news that Russia sent troops and heavy weaponry to Ukrainian separatist rebels.
Meanwhile British Prime Minister David Cameron offered a severe warning, but looked optimistically at the future. “The relationship that Britain has with Russia, that the European Union has with Russia, the relationship that I hope Australia has with Russia, will be very different.”
A future that Putin hopes for as well. “Some of our views do not coincide, but the discussions were complete, constructive and very helpful.”
The Australian government is not as forgiving, however. On top of the disastrous MH17 flight shot down in the Ukraine and killing 28 citizens, four Russian naval vessels were seen along the Australian coast.
Putin seemed to remain stoic and unapologetic in his position on the Ukraine. CNN reports that Putin told Russian press the sanctions against Russia are in direct contradiction of the World Trade Organization and G20 meetings, challenging “the whole system of international economic relations.”
When speaking to German television network ARD on Thursday, Putin said, “The most important thing is that one does not have a one-sided view of the problem.” Considering the location of comment and slow dismantling of the Ukraine, perhaps another point would have been better made.
“Today there is fighting taking place in the east of Ukraine, the Ukrainian government has deployed troops there.” He purported that Western media wants “the Ukrainian government to destroy everything there” for not reporting on a nation defending its own borders from civil war.
The idea of the summit in Australia this year was to “launch a new road map to boost global economic growth by two percentage points above the existing targets by 2018, mainly through infrastructure spending, streamlined financial services, and a crackdown on tax laws.” Weathering the various economic rise and falls as countries slowly recover from the Great Recession depends on creating a more centralized and stabilized international trade agreement economy.
Ukraine directly threatens the opportunity, especially in trade with Russia, the main producer for Central and Eastern Europe oil. While the Ukraine was not officially on the agenda, the destabilization of the region directly affects the international community and European Union’s economic maintenance.
According to The Guardian, Putin told his national media that the economic blockage of eastern Ukraine was “a big mistake,” but not quite “fatal.”
“I don’t understand why Kiev authorities are cutting off those territories with their own hands. Well one can understand – to save money. But it’s not the time or the case to save money on.”
An interesting phrase, “to save money on”, when the Bank of Russia acknowledged that sanctions and a slump in oil prices are hitting the economy and ruble hard. And Bloomberg reminds Western readers that the imposed sanctions are performing as predicted.
Capital Economics Ltd.’s emerging-markets economist, Neil Shearing, points out that the slide is a combination of economical missteps. “Sanctions is one, the ruble crisis is another, inflation of course, and the accelerated move toward a free float.” A Bloomberg survey predicted a 70 percent chance of Russian recession in the next year, which would hurt the already poor citizens, and damage the devaluing ruble.
Merkel clearly stated, “That these geopolitical tensions, including relations with Russia, are not really conducive to promoting growth” in a globalized economy. “We are all striving to do everything diplomatically possible to see improvements.” All the leaders want a stable, growing economy to create a healthy market for capitalism.
While Abbott claimed “President Putin was a guest in our country, and I was a happy to treat him with respect and courtesy while he was here in Australia,” the national parliament and officials /4/not have agreed. Australian Attorney-General George Brandis chose to ignore Putin’s arrival and instead greeted German Chancellor Angela Merkel and Chinese President Xi Jinping with enthusiasm.
President Putin left the conference early, claiming an 18-hour return flight meant he would need some sleep before returning to work on Monday. He also claimed the contentious relationships with other countries had nothing to do with the early departure.
“I came to Tony and told him about it, he understood this. There are no other considerations.”
What happens in the economic market remains to be seen, but if Russia continues to support the separatist rebels then Putin’s country will face a very austere future.
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