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By Michael Hudson and Real News
400 billion dollar 40 year oil and gas deal between China and Russia is a response to the new cold war pressure and sanctions on Russia says Michael Hudson, Distinguished Research Professor of Economics at the University of Missouri, Kansas City.
SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore.
During this year a number of governments applied sanctions against Russia for its involvement in the alleged pro-Russian unrest in the Ukraine. Sanctions against Russia were applied by many countries, with the United States and the European Union taking a lead. In retaliation, Russia has responded with sanctions against a number of countries, including a total ban on food imports from the European Union, United States, Norway, Canada, and Australia.
What does all of this mean to Europe, the United States, and the geopolitical…
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