While Obama is trying to "warn" and scare Russia with sanctions, European companies from Germany, France and Poland are afraid of their businesses. European banks and corporations are far more exposed to Russian economy and its condition than Americans one are. Europeans are afraid of international sanctions that Russia can be treated with today more than ever before in history. Trade between USA and Russia in estimated for $26 billion yearly, while trade between European Union and Russia it's even more than $370 billion yearly (sic!). As a result, they have lobbied energetically to head off or at least dilute any sanctions, making it hard for American and European political leaders to come up with a package of measures with enough bite to influence Moscow’s behavior in Ukraine.Since Russia’s annexation of Crimea, energy companies, exporters, big users of Russian natural gas and investors with stakes in Russia have counseled caution. “Neither in energy terms, nor politically, should we turn away from Russia,” said Rainer Seele, the chairman of Wintershall, a subsidiary of the large German-based chemical company BASF that is deeply entwined in Russia’s oil and natural gas trade. In a statement on Friday, the White House said Mr. Obama had discussed Ukraine with Chancellor Angela Merkel of Germany, Prime Minister David Cameron of Britain, President François Hollande of France and Prime Minister Matteo Renzi of Italy. Mr. Obama said only that the leaders had “agreed to work closely together, and through the G-7 and European Union, to coordinate additional steps to impose costs on Russia,” and European governments, without being specific, signaled that they were ready to take some kind of action.
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