Russia's Annexation in the Crimean Peninsula and the War of Economic Sanctions Between Russia and the European Union

Deskripsi

In recent years,the Russian Federation's policy has experienced major changes. The changes is in line with the complex situation in East Europe, particularly on Crimean Peninsula area as the contested area between European Union and the Russian Federation in expanding their powers. The imposing of economic sanctions by EU toward the Russian Federation has led to the international between Russia and EU. This article found several main findings, First, the imposing of economic sanctions by EU hits the Russian Federation economic, seeing to the fall of oil price and ruble depreciation. So, it threaten the Russian Federation in many related-dimensions. Second, the imposing of economic sanctions by EU against the Russian Federation has led to the dilema for EU itself, since EU is the largest exporter market of Russian Federation energy supply and the Russian Federation is the largest importer of the food and agricultural product. Third, the Russian Federation's policy in countering the economic sanctions against the EU not too different with the EU's economic sanctions, but hit the EU in many aspects. The national economic policy and economic foreign policy has helped the Russian Federation in countering the economic sanction; the import substitution policy has a significant role to the food and agricultural product embargo, while the economic partnership and market shift policy also hit the EU and creates a prolonged dilema.