Economics
U.S. Drip-Feed of Sanctions Seen Ineffective With Putin Provoked
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The Obama administration's decision to tighten the noose around Russian President Vladimir Putin's inner circle risks provoking a cycle of retaliation that escalates the crisis in Ukraine.
The penalties imposed on seven officials and 17 companies are spurring a “maximal consolidation of elites in the past 10 to 15 years,” according to Andrei Belousov, Putin’s top economic aide and a former economy minister. Deputy Foreign Minister Sergei Ryabkov told Interfax that Russia won’t let the measures go unanswered.