Financial Expert: Russia Sanctions Could Affect Global Markets

Monday, 21 Jul 2014 04:32 PM

By Courtney Coren

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The U.S. government may place further sanctions on Russia after the shoot-down of a Malaysia Airlines jetliner by Ukrainian rebels with a missile the United States thinks was provided by the Russian government, and financial expert Kim Iskyan says more sanctions could have a global impact.

"There's a lot of reluctance on the part of the U.S. and even more so on the part of the EU to really try to clamp down on Russia," Iskyan told John Bachman and Morgan Thompson on "America's Forum" on Newsmax TV on Monday.

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"Russia is very much integrated into the global financial system," the editor at S&A Global Contrarian explained.

"So, any kind of sanctions, which could be, for example, trying to block the Russian financial sector, Russian banks from being able to send money anywhere else in the world," Iskyan said. "Or it might be some sort of block on imports or exports or any sort of investment in the Russian oil and gas industry, anything like this could really hurt European economies."

"It would have reverberations throughout the global economies that I don't think a lot of people, certainly a lot of American policy makers, have really thought through very carefully," he added.

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