old and silver prices will likely head higher this week as the traditionally strong month of September is turbo-charged by the slide towards EU recognition of the war in the Ukraine, with Russia now being told to back off by next weekend or else.
Such threats have not worked in the past. But whether the 28-nation bloc can agree to anything strong enough to really deter Russia from its mission in Ukraine is doubtful.
New sanctions
Measures proposed range from taking away the hosting of the 2018 World Cup to switching off the SWIFT system of banking transfers. The EU will consider the immediate damage to its own business interests and also the probable Russian response, a crippling ban on EU car imports, for example.
This post was published at Arabian Money on 31 August 2014.
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