Sunday, March 30, 2014

Russian and American Diplomacy Talks Have No Progress

On Sunday, Foreign Minister Sergey V. Lavrov and Secretary of State John Kerry met to discuss the situation regarding Ukraine. No progress was made, as they two promised to "continue discussions" over the Crimean crisis. there was no true breakthrough, as Russia has not committed to removing the 40,000 troops that are surrounding Ukraine's border.

Progress was made over securing the linguistic and cultural rights of Russian minorities in Ukraine earlier this week, speaking of the rights Russian- speaking populations and constitutional reform. The situation regarding Crimea itself was not progressive, yet both parties are eager to resolve the conflict as Russia wants the US to stop tough sanctions over Crimea and the ongoing NATO talks. The Russian GDP is expected to fall by as much as 1.8% if no negotiations are settled, with stocks plummeting greatly below market value. Lobbyist from major oil companies such as BP are trying to loosen ties over Russia, as it has been estimated that they have lost over a billion dollars in oil investments. (source)

On a different note, Russia is imposing their own sanctions upon Ukraine. While Russia accounts for 25% of Ukraine's imports, companies such as Gazprom and the steel corporation Metinvest have increased their prices (by Kremlin influence). Even with billions in financial aid from the World Bank, Ukraine will still be hit hard as their economy continues to plummet. (source)

Russia has proposed Ukraine to "federalize"- so that each region will receive their fair share of representation for its traditions and customs. This is particularly funny because it is offering a western solution that the United States does not entirely believe in. Now we wait upon the future of Ukraine's government.

The final source can be found here.

No comments:

Post a Comment