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Valentin KATASONOV

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The European Union and the Trade War with Russia (III)

...Opposition to the introduction of sanctions by Brussels against Russia will primarily arise in those countries in which Russia is relatively dominant in foreign trade compared to the US (there are 12 such countries in the EU). At the same time, Washington's political dominance in some of these countries will exacerbate the socio-political situation. Public opinion polls in Lithuania, Latvia and Estonia, for example, show that the vast majority of respondents are opposed to their country's involvement in sanctions, and, since Brussels started going along with US sanctions, the percentage of respondents in favour of their country's withdrawal from the European Union has begun to rise.

Valentin KATASONOV | 18.08.2014


 

The European Union and the Trade War with Russia (II)

In speaking of the economic war started by the West against Russia, it has been pointed out that on the European front of this war, new disproportions leading to a significant asymmetry are inevitably emerging within the European Union. Only the foreign trade ‘heavyweights’ represented by a small group of European countries could inflict serious damage on Russia. The backbone of this group is made up of Germany, the Netherlands, Poland and Italy. But a Russian retaliation would cause, and is already starting to cause, the greatest damage to other EU member countries...

Valentin KATASONOV | 17.08.2014


 

The European Union and the Trade War with Russia (I)

The issue of the trade and economic war between the West and Russia instigated by Washington has intensified in recent days. The United States is unable to conduct a trade and economic war against Russia by itself, since trade volumes between Russia and America are relatively modest. In 2013, US imports from Russia amounted to $11.2 billion, while exports from the US to Russia amounted to $16.5 billion. Accordingly, America’s share of Russian exports last year was 2.5 per cent, and its share of imports was 6.0 per cent. In 2013, the US ranked just 20th on the list of Russia’s trade partners. But the share of countries in the European Union, made up of 28 countries, last year reached 50 per cent of Russia’s foreign trade turnover. In other words, Washington is unable to unleash an economic war against Russia without its European allies...

Valentin KATASONOV | 16.08.2014


 

Argentina Declared in Default – Warning to Ukraine

Actually Argentina has defaulted on its foreign debt. Such things happen in the contemporary world, the country has become a victim of financial vultures and the so-called legal imperialism of the United States... Argentina is the best illustration of how the legal imperialism works... On July 31 Ukraine’s Prime Minister Yatsenyuk made a loud-voiced statement. «The first major economic news today is that Argentina went into default», he told lawmakers. «And the second is that Ukraine didn’t default, and it never will». Perhaps he pins his hopes on the US sponsors. There is little ground to believe that Washington will grant billions (or even dozens of billions) to have the Ukraine’s debt restructured. Brussels will hardly lift a finger to help because the plight of the European Union is quite comparable with the debt problems faced by Ukraine...

Valentin KATASONOV | 03.08.2014


 

Washington’s Banking Sanctions – Formal and Informal

...Since 1 April 2009, American financial regulators have fined European banks 32 times totalling nearly $25 billion... On 30 June 2014, the French bank BNP Paribas, which ranks fourth in the world in terms of assets and second in France, agreed to pay US authorities a record $9-billion fine. The bank’s management is charged with helping its Sudanese, Iranian and Cuban clients carry out dollar transactions banned by the US sanctions regime. In the coming months, giants of European banking like the German Kommerzbank and Deutsche Bank, French Credit Agricole and Societe Generale, and Italian Unicredit, among others, could also be subject to penalties...

Valentin KATASONOV | 30.07.2014


 

70 Years Dividing Bretton Woods Conference and Fortaleza Decisions

This July the world marks the 70 years anniversary of Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference... As 70 years since Bretton Woods have passed, a heavy blow was delivered against international financial institutions. The attack came from the resort city of Fortaleza in Brazil. Although the theme of the summit was “social inclusion”, at the top of the agenda is the creation of two new entities controlled entirely by the five BRICS members. The Bank is setup to foster greater financial and development cooperation among the five emerging markets. It would be headquartered in Shanghai, China and the first chief executive will come from India. The New Development Bank (NDB) will fund development projects independent of the US-controlled World Bank, and the Contingent Reserve Arrangement (CRA) will provide relief from the austere conditions and requirements of the IMF...

Valentin KATASONOV | 18.07.2014


 

Bretton Woods II and George Soros

...George Soros makes no secret of the fact that he does not like America. Not because it wages destructive wars around the world, or because of the country’s huge social polarisation, or because its prisons contin more than two million people, with a further four or five millions American who were sentenced to imprisonment currently at large because the country does not have enough prisons, or because the US organised an all-out surveillance of every telephone conversation in America. Soros does not like America because it still retains far too many attributes of a state. This is why Soros was one of Obama’s main sponsors during the pre-election presidential campaign. This also explains what initially seem to be certain illogical decisions and acts of the White House’s current occupant that are troubling the real patriots of America...

Valentin KATASONOV | 22.06.2014


 

What’s Behind the Campaign to Combat Banking Secrecy?

The institution of banking secrecy is on the brink of death. The destruction of the World Trade Center in New York on 11 September 2001 and the 2007-2009 financial crisis can both be considered fateful events for the future of banking secrecy. The first event was the start of the fight against terrorism organised by Washington, under the pretext of which the US authorities began trying to obtain open-ended access to information about banks’ customers, their accounts and transactions. The Patriot Act, passed after 11 September 2001, provided US intelligence agencies with full access to what had been classified banking information in America without having to obtain special permission from the public prosecutor’s office and the courts. Through various international organisations (the OECD, the IMF etc.), Washington later began to seek free access to banking information throughout the world...

Valentin KATASONOV | 15.05.2014


 

What Will the FBI Do with Stolen Ukrainian Assets?

Recently the U.S. State Department’s Office of the Spokesperson announced that the U.S. had sent a team of experts from the FBI, the Justice Department and the Treasury Department to assist Kiev in recovering stolen assets located abroad... The main part of Ukraine's assets abroad formed as a result of illegal export of capital by high-ranking officials and oligarchs... In evaluating the likelihood of Ukraine recovering even a small part of the tens of billions of dollars which were taken from it and exported abroad, it is useful to recall the story of former Prime Minister of Ukraine Pavel Lazarenko. He is serving a prison sentence in the U.S. for money laundering... 15 years have passed since Lazarenko's arrest in the U.S., but Ukraine has yet to receive a single dollar of the ex-prime minister's frozen funds. And it never will...

Valentin KATASONOV | 22.04.2014


 

The International Monetary Fund Might Not Live to See Its Anniversary

The latest meeting of the ministers of finance and central bank governors of the G20 countries took place April 10-11, 2014 in Washington. A key issue was the reform of the International Monetary Fund (IMF)... Through their inaction on the issue of reforming the IMF, the United States first and foremost is discrediting itself. And second, the Fund. Third, the G20. The Fund's reputation is plummeting especially fast considering that in recent years China has been giving "third world" countries loans similar in size to those offered by the IMF and the IBRD. But Beijing, unlike the IMF, does not set political conditions in the spirit of the Washington Consensus...

Valentin KATASONOV | 19.04.2014




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OUR COLUMNIST
    Finian CUNNINGHAM

Western Doublethink on Blind Path to War

...The US-led NATO alliance this week announced that it intends consolidating its military presence in Eastern Europe, the Black Sea and the Baltic states. Ahead of a NATO summit in Wales, NATO secretary Anders Fogh Rasmussen has called for the setting up of «reactive battalions» along Russia’s border. The contingency would include the eventual placement of ballistic missiles and it builds on recent dispatches of NATO warships and fighter aircraft in the region... Economic sanctions imposed by Washington and its European allies – the latest round announced this week – are applied with the same reckless abandon as NATO build-up. No concrete evidence of alleged Russian malfeasance in Ukraine is produced to validate sanctions or NATO battle plans...

03.09.2014
 
 
 
 
 
 
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