English: THE GRAND KREMLIN PALACE, MOSCOW. President Putin with Iranian President Mohammad Khatami. Русский: МОСКВА, БОЛЬШОЙ КРЕМЛЕВСКИЙ ДВОРЕЦ. С Президентом Ирана Сейедом Мохаммадом Хатами. (Photo credit: Wikipedia)

The most read article in the FT is very different from the same in Russian newspaper Pravda, yet they are two sides of the same tale. The FT article is a recommended read. Check it out!

via US sanctions not mere ‘trifles’ for Russia’s oil industry – FT.com.

What is clear from the FT article is that sanctions will hurt Russia where she is most vulnerable in developing the future of her energy sector. European technology is critical to Russia and that is probably why Russia has retaliated with knee-jerk sanctions on the West. Under President Putin‘s leadership Russia’s economy is contracting – it is totally dependent on the energy sector, with other industries in a weak state by global benchmarks.

Any thoughts?

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