Russia to Retaliate Against Sanctions

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Aug. 6 (Bloomberg) –- Bloomberg’s Ryan Chilcote reports on Russian President Vladimir Putin prepping a retaliation against U.S. and E.U. Sanctions. He speaks to Jonathan Ferro on Bloomberg’s Television’s “On The Move.” (Source: Bloomberg)

What are they considering?

They have to be very careful as he draws up these retaliatory measures.

Keeping in mind russian consumers and reporters and not to hurt them.

We don't know exactly what he is thinking.

Yesterday morning one government official said that overflight rights could be one thing they actually do.

What are overflight rights?

If you want to go from western europe to asia, the simplest way is to go through russia across siberia.

If you can't do that, if russia pulls these rights i get that is bad for us because we cannot sell those rights.

It's also bad for western airlines because russia is the biggest country in the world.

You got to fly around it.

That means more fuel, other problems.

That's the reason we saw almost all airlines slump big time over the last five days, all of them down about five percent if you look at the last five trading days.

We have seen some small measures the russians have done.

He has banned the import of polish vegetables.

Apparently polish vegetables are not up to snuff.

I have been watching russia for 24 years.

Russia often bans the import of things like meat and dairy in political context without blaming politics because they can say there's don't meet gastronomical requirements of russian regulators without spelling out what they really mean witches they want to hurt that country's economy.

We will have to wait.

He did tell his they should be careful in what actual plant they draw up to make sure russian producers don't get hit.

As you know, the russian economy is already stagnant.

The polish government is probably not too worried about those vegetable exports but worried about the buildup.

They are more concerned about what the fed is going to do.

The issue with troop the old up on the eastern side of the ukrainian russian border -- buildup on the eastern side of the ukrainian russian border has the attention of the polish minister saying russia intends with its troops -- they would tell you russia has 45,000 troops.

Nato has 20,000 troops poised to go across the border.

Basically they say russia has one or two plants.

One is to pressure ukraine.

I guess that is pretty obvious.

He also reminded the world he thinks russia might be about to invade ukraine.

The ukrainian military is surrounding this city.

It has one million people.

That's more people than frank ford.

A big city would be a big battle.

You have tens of thousands of troops on either side.

Ukrainian troops surrounding it.

There is a lot of speculation that should it get ugly the russian president may be compelled to send peacekeepers to protect russian speakers in donetsk that have chosen to remain.

It is a speculative issue.

We have the polish minister reminding everyone it could happen.

This text has been automatically generated. It may not be 100% accurate.

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