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Title : The Kremlin Gets Ready For The Next Crisis
link : The Kremlin Gets Ready For The Next Crisis

The Kremlin Gets Ready For The Next Crisis

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Mikhail Klimentyev/Kremlin/Sputnik via Reuters

CNN: Putin builds war chest as Kremlin digs in for the next crisis

In the latest display of deepening cracks in the West's formerly unified economic campaign against Russia, France's Foreign Minister Jean-Yves Le Drian told reporters Monday that "the time is right" for reconciliation in EU-Moscow relations.

The latest French overture comes as US lawmakers returned to work this week and at least two sanctions bills against Russia are making their way through Congress.

But policymakers and pundits question whether further unilateral sanctions are an effective response to Russian President Vladimir Putin's adventurism, amid concerns that they could also damage relationships with American trading partners and allies.

The US and its allies first issued a package of economic sanctions in 2014, intended to punish Russia for annexing Crimea and supporting separatist militias in eastern Ukraine.

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WNU Editor: Russia is definitely well positioned to weather the next economic/financial/political storm ....

.... Since 2014, Russia has increased foreign currency reserves to an eye-popping $500 billion (the fourth highest in the world), paid off its foreign debt, "floated" (or in other words devalued) the Russian ruble to boost the competitiveness of Russian exports, "de-dollarized" holdings to insulate Russia from the US financial system, and balanced the state's expenditures and revenues.

Update: The Kremlin is also a big winner from yesterday's attack on Saudi Arabia's oil fields .... What the attacks on Saudi Aramco mean for oil prices (CNN).

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