EU postpones economic sanctions against RussiaJune 28, 2014 - 11:11 AMT PanARMENIAN.Net - Participants in the EU summit on Friday, June 27 postponed imposing economic sanctions on Russia. The move comes a day after an advertizing campaign by two top U.S. business lobbies warned of the negative impact on U.S. companies. “Preliminary consultations show that today almost no leaders of EU states find it necessary to impose trade and economic sanctions on Russia,” a source in the delegation from a Western European country said with confidence to ITAR-TASS. However the European officials carried out preparatory work on possible sanctions to implement against Russia if the situation in Ukraine demands so. Sanctions will be most effective if the main trade partners from Europe take part, the White House Press Secretary Josh Earnest said. The Obama Administration doesn't want to put U.S. companies in unprofitable conditions in terms of the competition should it introduce further sanctions against Russia, he added. The U.S. needs the EU as a partner in enforcing economic measures as the trade volume between Russia and Europe of $330 billion is almost ten times Russia-America trade. On Wednesday the main U.S. newspapers published advertisements by leading business groups saying new sanctions against Russia will first of all harm national companies. The advertisement titled “America’s interests are at stake in Russia and Ukraine” and signed by Jay Timmons, President of the National Association of Manufacturers, and Thomas J. Donohue, President of the U.S. Chamber of Commerce, were placed in the New York Times, Wall Street Journal, Washington Post and other major newspapers. “With escalating global tensions, some U.S. policy makers are considering a course of sanctions that history shows hurts American interests,” reads the advertisement. “We are concerned about actions that would harm American manufacturers and cost American jobs.” Donohue draws parallels between the present threat of sanctions with ineffective grain embargo which U.S. President Jimmy Carter imposed against the Soviet Union after its invasion of Afghanistan and which was cancelled by President Ronald Reagan. “U.S. workers and industries pay the cost of unilateral economic sanctions that have little hope of increasing the United States’ ability to achieve its foreign policy goals is said in the statement,” the authors conclude. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |