Russia can expect 'indefinite' sanctions for its illegal annexation of Crimea in 2014, according to a Russia specialist who says the country is unlikely to ever hand the territory back to Ukraine.
"It's absolutely our opinion that Crimea-related sanctions will stay indefinitely because clearly Crimea is not going to go back (to Ukraine) as far as the Russians are concerned," Chris Weafer, a senior partner at economic and political analysis firm Macro-Advisory, told CNBC on Tuesday.
But, according to Weafer, the Kremlin only really cares about one damaging restriction – that of its financial sector. "With parliamentary elections coming up in September and although the economy has come someway, it is still on the floor, so showing strength in Crimea and showing that Russia is prepared to defend its interests there is good domestic politics too."
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WNU Editor: I am in Moscow now .... and listening to the people that I know here .... the financial sanctions are the ones that is on everyone's mind .... and it is on the top of everyone's "to be gone by next year" list. My prediction .... it all depends on what happens in the U.S. Presidential elections this year. A Donald Trump victory may open the door for negotiations and a search for some accommodation .... a Hillary Clinton election victory will mean a continuation of the status quo. Ditto for next years elections in Germany and other EU states next year.
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