Estonia, Baltic states stand to suffer most from Russia sanctions | EurActiv
▻http://www.euractiv.com/sections/europes-east/estonia-baltic-states-stand-suffer-most-russia-sanctions-303721
With demand levels remaining relatively low amongst its major trading partners in Europe, it appears as if Estonia’s subdued growth may be due to cyclical factors. Much will, however, also depend on how the situation in Eastern Ukraine evolves. Should the international community follow the recent example of the US and tighten economic sanctions against Russia, which also happens to be Estonia’s largest export destination, the Baltic country might feel a more profound impact on its economy.
The country’s newly elected prime minister, Taavi Roivas, seems to be taking the long view on this. Quoted recently by Reuters, Roivas suggested that the economic discomfort might be worth bearing to secure a favourable political outcome.
As the situation in the Eastern Ukraine continued to escalate this week in the wake of the Malaysian Airlines disaster, Talinn and its Baltic partners may be wondering how long they will still be able to take the pain.
