Russia Goes for Compromise with Western Partners

• 04.16.2015, 13:58
•  Region,  World

Russia is trying to find a way to lift sanctions imposed on its economy. Minister of Agriculture of Russia declared about a partial lifting of food embargo in case the sanctions against the country are softened. It is a sign for their Westerns partners to release sanctions towards Russian economy, Vestnik Kavkaza reports.

Russia believes that sanctions on its economy is unjustified and even illegal in terms of WTO requirements. In his term Russia imposed a food embargo against the EU, Canada and US. According to some experts sanctions should be limited either by time or by volume, it can not be extended on every sector of the economy and be limitless.

The Group of Seven leading industrialized countries (G7) in their last meeting that took place on Wednesday in Berlin came up with the agreement that sanctions on Russia should remain until Ukraine’s peace plan is fully implemented. G7 includes USA, Canada, Japan, Germany, UK, Italy and France before had members including Russia. The group leaders are open to welcome Russian return to the Group only in case if Ukrainian crisis is over and all requirements are implemented fully by Russia. In his turn Russia tries to cooperate with Greece and Hungary, so as these two countries can lobby for the EU decision. This lobbing will be a sign for Russia that sanctions applied by Europe should end, and then Russia will compromise over a food embargo.

The damages to Russian economy by Western sanctions are much more than food embargo imposed by Russia on Europe, United State and Canada. Russia should be flexible in its trading with Asia and Eastern countries. Also the country needs economic reforms in production and trade in order to be attractive for new economic relations.