NEW YORK TIMES: … Every day brings a barrage of woeful economic news. World oil prices just hit a five-year low. The Russian ruble is down 40 percent against the dollar so far in 2014. Inflation is due to rise 9 percent this year and to continue climbing. Capital flight is expected to reach $128 billion….
Some analysts say the changes may be felt in the policy area, where Mr. Putin may feel compelled to tone down his aggressive, anti-Western stance. But others worry that he may do just the opposite, saying that his need to divert attention from economic problems might inspire further nationalistic adventures abroad, akin to the annexation of Crimea…
Nearly $700 billion is owed to Western banks, economists said, much of it by the giant state-run companies that constitute the heart of the Russian economy. But sanctions imposed by the United States and Europe over Russia’s annexation of Crimea and adventurism in southeastern Ukraine have blocked access to Western financing… (more)
EDITOR: Sanctions may be more effective than two million NATO troops.
