Monday, July 28, 2014

Sanctioned Sales

Sanctions? What sanctions?
U.S. Census Bureau foreign trade data show that exports rose 17 percent from March through May _ the most recent months for which the data is available _ compared with the previous three months, before sanctions were imposed. The value of exports has risen in each consecutive month this year, an unusual trend in a trade relationship that historically fluctuates on a monthly basis.

Russian markets account for less than 1 percent of U.S. exports, but what the U.S. sells to Russia is largely high-tech and expensive goods, including technology and equipment for the energy sector, which faces the threat of targeted sanctions.

Robert Kahn, a senior fellow in international economics at the Council on Foreign Relations, said the rise in exports was evidence that Russian companies were stockpiling goods with the expectation that future sanctions would prevent U.S. companies from selling to their country.
Not that they would seem to matter much...

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