Iran sanctions cost US economy $175bn: NIAC
Press TV – July 17, 2014
The US sanctions against Iran have cost Washington as much as USD 175 billion dollars in losses for not doing business with the Islamic Republic, a Washington-based think-tank has found.
“The United States is by far the biggest loser of all sanctions enforcing nations. From 1995 [when the US imposed trade embargo on Iran] to 2012, the US sacrificed between USD 134.7 and USD 175.3 billion in potential export revenue to Iran,” the National Iranian American Council (NIAC) concluded in a report.
During the same period, the report said, the United States lost 51,000 to 280,000 jobs a year due to the sanctions slapped on Iran.
“Texas and California are likely the biggest losers in terms of lost employment, due to their size as well as the attractiveness of their industries to Iran’s economy,” it said.
The US sanctions also cost the European economies billions of dollars in losses through the 2010-2012 period.
“In Europe, Germany was hit the hardest, losing between USD 23.1 and USD 73.0 billion between 2010 and 2012, with Italy and France following at USD 13.6-USD 42.8 billion and USD 10.9-USD 34.2 billion respectively,” it said.
The think-tank recommended that the US government consider lifting sanctions against Iran as nuclear negotiations are under way between Iran and the five permanent members of the UN Security Council – the Unites States, Britain, France, Russia and China – plus Germany.
“Decision-makers must… ask themselves if the cost of sanctions to the US economy is worth shouldering if other options do exist,” it said.
At the beginning of 2012, the United States and the European Union imposed sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.
‘Enough is enough’: Berlin outraged by alleged US spying
RT | July 6, 2014
The arrest of a German intelligence employee for allegedly spying for the US has caused an uproar among German politicians. The country’s foreign minister has demanded an immediate clarification of the situation from Washington.
“If the reports are true, then we’re not talking about trifles,” Frank-Walter Steinmeier said on a visit to Mongolia, DPA reports. He added that prompt clarification of the details in the case were in the “US’s own interest.”
Earlier, US Ambassador to Germany John B. Emerson was summoned to the German Foreign Office to answer questions concerning the recent arrest of a 31-year-old German foreign intelligence agency (BND) employee, who confessed to having spied for the US.
German tabloid Bild reported that the man had been a double agent for two years, during which time he exchanged bundles of secret documents for €25,000 ($34,100).
The harshest reaction so far has come from German President Joachim Gauck. If the spying allegations are confirmed, “one really has to say, enough is enough,” he told the ZDF broadcaster Saturday.
Angela Merkel on Sunday expressed surprise and disappointment over the possible involvement of US intelligence in the BND espionage scandal, according to German businessmen, accompanying her on her trip to China, Spiegel Online reports. She has not made any comment so far, however.
Last October, Merkel was enraged to learn she was allegedly on the NSA’s tapping list since 2002. The Chancellor called the alleged spying, which became known thanks to Edward Snowden’s leaks, “unacceptable.”
A German parliamentary committee has been holding hearings on the NSA’s spying activities in Germany.
Ironically, the classified materials from the hearings on US spying could get into the hands of US intelligence, as they allegedly were part of the documents stolen by the suspected double agent.
“If the suspicion of espionage is confirmed, that would be an outrageous attack on our parliamentary freedom,” said Thomas Oppermann, the parliamentary leader of the SPD party, a coalition partner of Merkel’s Christian Democrats.
Opposition parties have called for caution in future cooperation with foreign intelligence agencies.
“All cooperation of the German security authorities with friendly services needs to be reviewed,” Green Party leader Katrin Göring-Eckardt told Spiegel Online.
The German government is demanding that the US replace its employees at the Joint Intelligence Staff based in the US Embassy in Berlin, Bild reports.
While most of the criticism is focused on the US, some believe it’s the German leadership’s inability to react properly to the NSA tapping leaks that’s led to the yet another spying scandal. Merkel’s opponents have repeatedly blamed her for too mild a response to the NSA global surveillance revelations.
“That’s a result of Merkel’s transatlantic hypocrisy,” co-chair of the Left Party Katja Kipping said, Der Tagesspiegel reported.
Background:
Germany arrests suspected ‘double agent’ for working for US – report
Germany gives Verizon the boot over NSA spying scandal
RT | June 26, 2014
Citing concerns over the NSA’s wiretapping of Chancellor Angela Merkel and other top officials’ phones, the German Interior Ministry announced Thursday that it will not renew its contract with Verizon to provide service for government ministries.
As part of an effort to revamp its secure communications networks, the country will instead rely on Germany’s Deutsche Telekom, Reuters reported.
Since the beginning of the NSA scandal, US businesses have expressed concern over the potential blowback of the revelations on their bottom lines. Fearing foreign governments and other firms will no longer trust them to provide secure products and services, they’ve pushed back against the government, demanding more transparency of how the intelligence community operates.
Verizon is one of the first companies that can point to the NSA as a direct cause for a failed business deal. The Interior Ministry released a statement Thursday, saying “the ties revealed between foreign intelligence agencies and firms in the wake of the U.S. National Security Agency affair show that the German government needs a very high level of security for its critical networks.”
Although it was the first company outed by journalist Glenn Greenwald and British newspaper The Guardian as providing the NSA with millions of instances of metadata on a daily basis, Verizon is not the only – or necessarily the first – to do so.
As far back as 2001, the NSA reportedly collected data from AT&T by re-routing information on its network to government computers. Reporting by Wired revealed documents from AT&T technician Mark Klein showing how the feat was accomplished using hardware in a now famous secret room at the company’s San Francisco data center.
Though the US and Germany are allies, documents released over the past year by whistleblower Edward Snowden revealed an American intelligence community with access to a wide variety of German communications. The fallout has been a chilling of relations between the two nations, with the Bundestag (German parliament) especially fierce in its criticisms and demands for answers from the US.
To the consternation of American officials hoping to prosecute Snowden for espionage, the German parliament even invited the leaker to testify about the NSA’s practices in a formal hearing.
Chancellor Merkel, however, has a mixed history with demanding answers from the US.
At first reacting with outrage and comparing the NSA to the Stasi – the communist East German secret police – she also demanded the two nations agree to a “no-spying” pact.
Her attitude changed markedly, however, after meeting with President Barack Obama in May. Stressing the need for unity, Merkel attempted to brush the scandal that has outraged German citizens under the rug. This was not received warmly by opposition parties and many of her constituents, a large number of whom view Snowden as a hero.
Meanwhile, further allegations regarding US surveillance continue to be brought forward. According to a report recently published by the German newspaper Süddeutsche Zeitung , NDR and WDR, the NSA had been given access to large swaths of telecoms data by the country’s Federal Intelligence Service (BND). For at least three years raw data was fed directly to the US agency out of Frankfurt — the city is a telecoms hub for much of Europe and beyond.
The former Minister of the Interior, Hans-Peter Friedrich, declared last year that if a foreign intel service had been given a tap into the telecoms node in Frankfurt, it would be a violation of Germany’s sovereignty.
Germany To Begin Formal Investigation Into NSA Surveillance — But Only Of Angela Merkel
By Glyn Moody | Techdirt | June 6, 2014
The German government has been trying to avoid upsetting either the US by denouncing the large-scale surveillance being carried out by the NSA in its country, or the German people by not denouncing it. It finds itself in the same quandary as regards opening a formal investigation into the spying, which is probably why it has held off for so long. But now, the German authorities have come up with a sort of compromise, as GigaOM reports:
Germany’s federal prosecutor has launched the country’s first formal investigation into the activities of the NSA in Germany, specifically the U.S. intelligence agency’s reported bugging of Chancellor Angela Merkel’s mobile phone.
Harald Range said on Wednesday that the other potential avenue of investigation — that of the surveillance of the German people — remained open, though no investigation was being launched yet due to a lack of evidence.
Leaving aside the question just how much evidence the federal prosecutor needs before he investigates whether the German people have been subjected to US surveillance — a signed confession from President Obama perhaps? — the other issue here is the astonishing lack of sensitivity this move displays. The German government seems to be saying that spying is outrageous and must be investigated immediately if it’s directed against the powerful; but if it’s against the little people, then, well, sorry: we need more evidence before we could possibly risk upsetting the US.
Syria says France, Germany to bar expats from voting
Al-Akhbar | May 12, 2014
The foreign ministry said Monday that France and Germany intend to prevent Syrians living in their countries from voting in Syria’s presidential election, expected to return President Bashar al-Assad to power.
Germany and France are “preventing Syrians living in their territory from voting,” the foreign ministry said.
“France… is carrying out a hostile press campaign” against next month’s election, it said in a statement carried by state news agency SANA.
“It has officially informed our embassy in Paris of its opposition to the holding of the vote on French territory, including the Syrian embassy.”
French foreign ministry spokesman Romain Nadal implicitly confirmed the decision.
“The organization of foreign elections on French soil is covered by the Vienna Convention on Consular Relations of April 24, 1963,” he told AFP.
“As we are authorized by this convention, French authorities have the right to oppose the holding of this election anywhere on French territory.”
He reiterated France’s demand for a “political solution” to conflict in Syria as well as a transition process and Assad’s departure from office.
“Bashar al-Assad, who is responsible for the death of 150,000 people, cannot represent the future of the Syrian people,” Nadal said.
The foreign ministry said Germany had “joined the countries trying to block the presidential elections in Syria.”
It accused Berlin of “supporting, funding and arming terrorist groups in a bid to destroy Syria,” referring to the anti-Assad opposition.
“It is not surprising that these countries have taken the decision to prevent Syrian citizens living in their territory from exercising their constitutional right to vote in the embassies of their country,” the ministry added.
Damascus has set the presidential election for June 3, with expatriate voting to take place on May 28.
(AFP)
To Understand Or Not to Understand Putin
By Diana Johnstone | CounterPunch | May 8, 2014
In Germany these days, very many citizens object to the endless Russia-bashing of the NATO-oriented mainstream media. They may point out that the U.S.-backed regime change in Kiev, putting in power an ultra-right transitional government eager to join NATO, posed an urgent threat to preservation of Russia’s only warm water naval base in Crimea. Under the circumstances, and inasmuch as the Crimean population overwhelmingly approved, reinstating Crimea in the Russian federation was a necessary defensive move.
In Germany, anyone who says something like that can be denigrated as a “Putinversteher” (a Putin understander).
That says it all. We are not supposed to understand. We are supposed to hate. The media are there to see to that.
While the West doggedly refuses to understand Putin and Russia, Vladimir Putin, on the other hand, seems to understand things pretty well.
He seems to understand that he and his nation are being systematically lured into a death trap by an enemy which excels in the contemporary art of “communication”. In a war situation, NATO communication means that it doesn’t matter who does what. The only thing that matters is who tells the story. The Western media are telling the story in a way which depends on not understanding Russia, and not understanding Putin. Putin and Russia become fictional villains in the Western version, just the latest reincarnation of Hitler and Nazi Germany.
The horrific massacre in Odessa on May 2 proved this. The photographic evidence, the testimony of numerous eye witnesses, the smoldering bodies and the shouts of the killers are all there to prove what happened. Tents erected to collect signatures in favor of a referendum to introduce a federal system into Ukraine (now a politically divided but totally centralized state) were set on fire by a militia of fascist thugs who attacked the local federalists as “separatists” (accusing them of wanting to “separate” from Ukraine to join Russia, when that is not what they are seeking). The local activists fled into the big trade union building on the square where they were pursued, assaulted, murdered and set on fire by “Ukrainian nationalists”, acting on behalf of the illegitimate Kiev regime supported by the West.
No matter how vicious the assaults, Western media saw no evil, heard no evil, spoke no evil. They deplored a “tragedy” which just sort of happened.
Odessa is proof that whatever happens, the NATO political class, political leaders and media united, have decided on their story and are sticking to it. The nationalists that seized power in Kiev are the good guys, the people being assaulted in Odessa and in Eastern Ukraine are “pro-Russian” and therefore the “bad guys”.
Understanding Putin
So despite everything, let’s try to understand President Putin, which is really not very hard. Behind every conscious action there should be a motive. Let’s look at motives. Today, UK Foreign Secretary William Hague, who certainly gives every sign of never understanding – or wanting to understand – anything, parroted the NATO line that Russia was “trying to orchestrate conflict and provocation” in Ukraine’s east and south.
That makes no sense. Putin has absolutely no motive to want civil war to rage in neighboring Ukraine, and very strong reasons to do all he can to avoid it. It confronts him with a serious dilemma. Ongoing vicious attacks by fanatic nationalists from Western Ukraine on citizens in the east and south of the country can only incite the victimized Russian-speaking Ukrainians to call on Russia for help. But at the same time, Putin must know that those Russophone Ukrainians do not really want to be invaded by Russia. Perhaps they want something impossible. And it is perfectly obvious that any use of Russia’s military force to protect people in Ukraine would let loose an even wilder demonization of Putin as “the new Hitler” who is invading countries “for no reason”. And NATO would use this, as it has already used the reunification of Crimea with Russia, as “proof” that Europe must tighten its alliance, establish military bases throughout Eastern Europe and (above all) spend more money on “defense” (buying US military equipment).
The Western takeover of the Kiev government is clearly a provocation to draw Putin into a trap that certain Western strategists (Zbigniew Brzezinski being the chief theorist) hope will cause Putin’s downfall and plunge Russia into a crisis that can lead to its eventual dismemberment.
Putin can only wish to find a peaceful solution to the Ukrainian mess.
While Washington reverts to Cold War “containment” policy to “isolate” Russia, Putin today held talks in Moscow with Didier Burkhalter, the Swiss president and current chairman of the Organization for Security and Co-operation in Europe (OSCE), in hope of initiating some sort of peaceful mediation.
Putin Pulls Back From False Flag Plan?
On this occasion, Putin announced that he had pulled back Russian forces from the border with Ukraine. He indicated that this was to ease concerns over their positioning, meaning claims that Russia was preparing an invasion. He also advised against holding referendums for greater autonomy in the Russophone areas until “conditions for dialogue” can be created.
However, news reports indicated that this reported military pullback caused new concerns among some Ukrainians, who felt Russia was abandoning them in their hour of need, and among some Russians, who feared the President was backing down under Western pressure.
It is not impossible that the pullback order was linked to a Novosti RIA report dated May 6, which indicated that the Ukrainian secret service was planning an imminent false flag operation in order to accuse Russia of violating the border with Ukraine.
Novosti said it had learned from security circles in Kiev that the Ukrainian secret service SBU had secretly shipped about 200 Russian army uniforms and some 70 forged Russian officer IDs into the Eastern Ukrainian protest stronghold of Donetz, to be used to stage a false attack on Ukrainian border patrols.
Novosti said the reports were unconfirmed, but they could nevertheless be taken seriously by the Russians. “The plan would be to simulate an attack on Ukrainian border troops and to film it for the media”, the report said. In connection with the plan, a dozen or so combatants from the ultranationalist Right Sector were to cross the border and kidnap a Russian soldier in order to present him as “proof” of Russian military incursion. The operation was scheduled for May 8 or 9.
By pulling Russian troops farther away from the border, Putin could hope to make the false flag operation less plausible and perhaps to forestall it.
The whole Ukrainian operation, at least partly directed by Victoria Nuland of the U.S. State Department, has been characterised by false flag operations, most notoriously by the snipers who suddenly spread murder and terror in Maidan square in Kiev, effectively wrecking the internationally sponsored transition agreement. “Pro-West” insurgents accused President Yanukovych of sending the killers and forced a rump parliament to give government power to Ms Nuland’s protégé, Arseniy “Yats” Yatsenyuk. However, there has been plenty of evidence to show that the mysterious snipers were pro-West mercenaries: photographic evidence, followed by the telephone statement by the Polish foreign minister to that effect, and finally by the German television channel ARD whose Monitor documentary concluded that the snipers came from the extreme right anti-Russian groups involved in the Maidan uprising. Indeed, all known evidence points to a fascist false flag operation, and yet Western media and politicians continue to blame everything on Russia.
So whatever he does, Putin now has to realize that he will be deliberately “misunderstood” and misrepresented by Western leaders and media. Over the heads of the American people, over the heads of the Germans, French and other Europeans, a private consensus has obviously been reached among persons we may describe as our own Western “oligarchs” to revive the Cold War in order to provide the West with an “enemy” serious enough to save the military-industrial complex and unite the transatlantic community against the rest of the world.
This is what Russian leaders are obliged to understand. What they need most to save the world from endless and useless conflict is the understanding of all those Americans and Europeans who have never been consulted or informed about this perilous shift in strategy, and who, if they understood, would surely say no.
Diana Johnstone is the author of Fools’ Crusade: Yugoslavia, NATO, and Western Delusions. She can be reached at diana.johnstone@wanadoo.fr
Russian sanctions, NSA spying top the agenda at Merkel’s White House visit
RT | May 02, 2014
Germany’s Chancellor Merkel is in the White House for the first time since it was revealed the NSA monitored her personal communications. During bilateral talks with Barack Obama, Merkel is expected to broach sanctions on Russia and US spying.
Relations between Washington and Berlin are showing signs of tensions, as German companies call for a halt to sanctions on Russia. Furthermore, Germany is still reeling from the NSA spy revelations that affected millions of German citizens, as well as high-ranking businessmen and politicians.
Merkel reiterated earlier this week that Germany would support any further financial sanctions against Russia. However, growing calls from the German business sector may force her to change her policy in Friday’s meeting.
“The Germans are very clear they are not going to pursue factions that hurt German industry. That would be the straw that broke the camel’s back,” said Michael Hudson professor of Economics at the University of Missouri to RT.
Indeed, some major corporate figures have already spoken out against a potential escalation of the sanctions, maintaining they will do more harm than good to the German economy.
“If there’s a single message we have as business leaders, then it’s this: sit down at the negotiating table and resolve these matters peacefully,” Eckhard Cordes told a recent conference in Berlin. Cordes is a former Daimler AG executive who now heads the Ostauschuss, German industry’s branch for Eastern Europe, reported the Wall Street Journal.
So far the US, EU, Canada and Japan have imposed sanction on Russia for its alleged role in the unrest in eastern Ukraine. Moscow has denied claims it is involved in the unrest and has pointed the finger at Washington for orchestrating the situation in Ukraine as part of its geopolitical strategy in the region.
NSA spying
The espionage antics of the US National Security Agency remain a bone of contention between Berlin and Washington. It emerged earlier in April that Merkel had been denied access to her NSA file, following reports the agency had monitored her personal communications. The revelations had a profound effect on German society, prompting calls for Washington to account for its actions.
“First the US denied spying on Merkel’s cell phone, then admitted it, now it just continues, because Obama says ‘we reserve the right to collect information.’ I just see Angela Merkel going to the US to pick up new instructions,” Ken Jebson, Redaktion radio host told RT’s Peter Oliver.
While WikiLeaks spokesperson Kristinn Hrafsson, said the German government’s lack of resolve over the NSA spy scandal is indicative of European cowardice in the face of US dominance.
“I think the proof of the cowardice of governments and politicians and their unwillingness to tackle this in a meaningful way, despite what they say publicly, was when European countries closed their airspace and forced the presidential plane of Evo Morales to land in Austria, on a hunch that Edward Snowden was on board,” he told RT.
Earlier this year Washington pledged that it would no longer spy on world leaders, but stated it would still gather information on the intentions of foreign powers through its espionage programs.
German forces raid offices of “Hezbollah affiliated” charity
Al-Akhbar | April 8, 2014
German authorities on Tuesday raided the offices of a charity organization that allegedly has ties to Lebanon’s Hezbollah movement, accusing it of raising money for the group.
Around 150 police officers searched premises across six states and confiscated cash, computers and around 40 boxes of files.
Two bank accounts with a total of around 60,000 euros were frozen but no arrests were made, the German interior ministry said.
The ministry said it had outlawed the “Waisenkinderprojekt Libanon” (Orphan Children Project Lebanon) with immediate effect.
“The name of the group masks its actual purpose,” ministry state secretary Emily Haber said in a statement.
She said the organization based in the western city of Essen had raised 3.3 million euros ($4.5 million) in donations between 2007 and 2013 for the Lebanese Shahid Foundation, which supports families of fallen Hezbollah fighters.
Haber claimed the funds were used to recruit fighters “to combat Israel, also with terrorist measures” and compensate the families of suicide bombers.
The statement did not cite its evidence. Hezbollah used to carry out suicide missions against Israeli occupation forces in South Lebanon prior to their retreat in 2000.
The group has not used that tactic since Israel pulled its army from Lebanon 14 year ago.
“Organizations that directly or indirectly from German soil oppose the state of Israel’s right to exist may not seek freedom of association protection,” Interior Minister Thomas de Maiziere said in the statement.
He said the group’s goals violated Germany’s constitution.
The European Union in July last year also listed Hezbollah’s so-called military wing as a “terrorist organization.” But the EU said it would continue to deal with Hezbollah as a political entity.
The German interior ministry said it had put Waisenkinderprojekt Libanon, which has about 80 members, under surveillance since 2009.
(AFP, Al-Akhbar)
German forces raid offices of “Hezbollah affiliated” charity
Al-Akhbar | April 8, 2014
German authorities on Tuesday raided the offices of a charity organization that allegedly has ties to Lebanon’s Hezbollah movement, accusing it of raising money for the group.
Around 150 police officers searched premises across six states and confiscated cash, computers and around 40 boxes of files.
Two bank accounts with a total of around 60,000 euros were frozen but no arrests were made, the German interior ministry said.
The ministry said it had outlawed the “Waisenkinderprojekt Libanon” (Orphan Children Project Lebanon) with immediate effect.
“The name of the group masks its actual purpose,” ministry state secretary Emily Haber said in a statement.
She said the organization based in the western city of Essen had raised 3.3 million euros ($4.5 million) in donations between 2007 and 2013 for the Lebanese Shahid Foundation, which supports families of fallen Hezbollah fighters.
Haber claimed the funds were used to recruit fighters “to combat Israel, also with terrorist measures” and compensate the families of suicide bombers.
The statement did not cite its evidence. Hezbollah used to carry out suicide missions against Israeli occupation forces in South Lebanon prior to their retreat in 2000.
The group has not used that tactic since Israel pulled its army from Lebanon 14 year ago.
“Organizations that directly or indirectly from German soil oppose the state of Israel’s right to exist may not seek freedom of association protection,” Interior Minister Thomas de Maiziere said in the statement.
He said the group’s goals violated Germany’s constitution.
The European Union in July last year also listed Hezbollah’s so-called military wing as a “terrorist organization.” But the EU said it would continue to deal with Hezbollah as a political entity.
The German interior ministry said it had put Waisenkinderprojekt Libanon, which has about 80 members, under surveillance since 2009.
(AFP, Al-Akhbar)
Merkel not ready to back economic sanctions against Russia
RT | March 27, 2014
The West has not yet reached a stage where it will be ready to impose economic sanctions on Russia, German Chancellor Angela Merkel said, stressing that she hopes for a political solution to the stalemate over Ukraine crisis.
The chancellor said she is “not interested in escalation” of tensions with Russia, speaking after Wednesday meeting with the South Korean president in Berlin.
“On the contrary, I am working on de-escalation of the situation,” she added, as cited by Itar-Tass.
Merkel believes that the West “has not reached a stage that implies the imposition of economic sanctions” against Russia, advocated by US President Barack Obama. “And I hope we will be able to avoid it,” she said.
Berlin is very much dependent on economic ties with Russia with bilateral trade volume equaling to some 76 billion euros in 2013. Further around 6,000 German firms and over 300,000 jobs are dependent on Russian partners with the overall investment volume of 20 billion euros.
Germany is currently the European Union’s biggest exporter to Russia. German car manufacturing companies are likely to suffer first if sanctions against Russia become more substantial, as about half of German exports to Russia are vehicles and machinery.
Volkswagen, BMW, and lorry maker MAN all have Russian operations, with VW willing to inject another €1.8 billion in its Eastern European segment by 2018, the Local reports. Opel, a German car maker which sold over 80,000 cars in Russia in 2013, last week said that the company was “already feeling the stresses and strains from the changing course of the ruble,” Karl-Thomas Neumann, boss of car makers Opel, told Automobilwoche magazine.
On the retail side, German Metro stores wanted to take its Russian subsidiary public this year, but the plan is now imperiled, Der Spiegel reported.
Earlier this month Germany’s KfW development bank canceled a contract with Russia’s VEB bank worth €900 million in investment initiatives for mid-sized companies. Under the deal Germans were to have invested €200 million in Russia.
In addition, Germany is heavily dependent on Russian energy with around 35 percent of its natural gas imports coming from Russia.
Russian Finance Minister Anton Siluanov commented on Russia’s economic situation on Wednesday.
“At present, the investors’ worries are connected with the consequences of sanctions. We see ratings agencies lower the outlook on Russia’s ratings. It certainly puts us on alert. There are no basic grounds for changing the general stability of Russia’s economy,” Siluanov told Russia-24 TV channel.
Standard & Poor’s (S&P) global credit rating agency changed the outlooks for Russia’s large energy companies on Wednesday. Gazprom, Rosneft, Transneft and Lukoil ratings were reduced from stable to negative outlook for having “very strong links” with the Kremlin. Last week S&P and Fitch Ratings lowered Russia’s overall creditworthiness. Both companies affirmed Russia at BBB.
Yet Siluanov defended Russia’s economy and trustworthiness saying that foreign investors hope that the any sanctions against Moscow are temporary.
“The measures that were taken regarding certain persons and companies have their effect. The general mood around Russia has become nervous. But we have good conditions for business,” he said, adding that “neither Western companies nor Russia need the sanctions.”

