Sanctions are Driving Russians to Drink

Source: Jean Macken in Global Post, March 22

Russians have a new reason to hoist a glass these days. According to a popular Russian post on Twitter, the toast du jour is “To US sanctions!”

It’s not clear whether the imbibing is due to joy or despair, but the latest round of punitive measures against Russia announced by President Barack Obama on Thursday packs a wallop.

The new sanctions add 20 individuals and one bank to the 11 already on a US blacklist. The people face travel bans and asset freezes. The bank will be unable to do business with any US firms or individuals.

The measures target President Vladimir Putin’s inner circle, with the threat of more to come. Obama indicated he’s prepared to target key sectors of the Russian economy in retaliation for Russia’s annexation of Crimea, which Putin signed into law Friday.

“Russia must know that further escalation will only isolate it further from the international community,” the US president said.

The new sanctions certainly increase the tension between Moscow and Washington; it’s not yet clear whether they will do anything to move Russia out of Crimea or curb the Kremlin’s expansionist ambitions….

Russian news agency RIA Novosti reported on Friday that Visa and MasterCard have stopped processing transactions for cardholders at certain Russian banks, including Bank Rossiya.

Moscow responded swiftly, imposing corresponding sanctions on nine US officials, including Arizona Senator John McCain, Senate Majority Leader Harry Reid and Speaker of the House John Boehner.

The Russian measure was greeted with humor by some.

“I guess this means my spring break in Siberia is off,” McCain said in a statement Thursday. “My Gazprom stock is lost, and my secret bank account in Moscow is frozen. Nonetheless, I will never cease my efforts on behalf of the freedom, independence, and territorial integrity of Ukraine, including Crimea.”