Europe Goes "All In": Will Sanction Rosneft, Gazprom Neft And Transneft -- Zero Hedge

Until this moment, the main reason why everyone mostly dismissed Europe's sanctions against Russia is that despite all its pompous rhetoric, Europe consistently refused to hit Russia where it would hurt: its energy titans Gazprom, Rosneft And Transfneft. The reason is simple: by imposing sanctions on these core energy exporters, Europe would directly threaten the stability of its own energy imports (Russia accounts for up to 30% of German gas imports), and as winter approaches with every passing day, playing with the energy status quo would seem like economic suicide. This all appears to have changed last Friday, when as the FT reports from a leaked copy, Europe's latest sanctions round will boldly go where Europe has never dared to go before, and impose sanctions on the big three: Rosneft, Gazprom Neft and Transneft.

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My Comment: I agree with Zero Hedge .... these sanctions are now major, and it will impact the Russian economy seriously. Putin will have to respond. On a side note .... I also agree with Zero Hedge that the big winner will be China .... The Ukraine Crisis Has Accelerated Russia-China Energy Ties (AFP)