Olga Ponomareva and Ivan Ermokhin on lifting sanctions

It is premature to talk even about a partial lifting of sanctions, believes Olga Ponomareva, expert at the Economic Policy Foundation. «Information about the possible lifting of sanctions alternates with statements that they are going to be expanded and tightened», — Olga Ponomareva notes.

If Washington does make concessions, restrictions will be lifted first from banks, other financial institutions and the Central Bank’s reserves. It is in the US interests to reduce the de-dollarization drive in the world. China is actively promoting the yuan in settlements, and US President Donald Trump has already threatened to impose 100% tariffs against the BRICS countries if they abandon the US dollar, but the easing of financial sanctions against Russia may prove to be more effective, Olga Ponomareva believes. Also, sanctions relief can be expected in rare-earth mining, energy and aircraft industry, that is, the sectors where the United States is interested in cooperation, Olga Ponomareva notes.

First and foremost, they will discuss the lifting of sanctions on goods that the US economy needs, agrees Ivan Ermokhin, researcher at the International Best Practices Analysis Department of the Gaidar Institute. «These include metals (aluminum, nickel and copper), as well as Russian diamonds. Also, sanctions can be eased on certain seafood and fish, in which the United States is experiencing domestic shortages», — Ivan Ermokhin adds.

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