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Gunboat diplomacy catches on

Published Wednesday, March 12th, 2014

Diplomacy has hit a brick wall over the Crimea. William Hague warns of huge economic costs to Russia over time but in the short-term the only cost is a tumbling stock market and higher interest rates to support the rouble. Iran must be wondering why there is so much fuss over its nuclear programme when Russia is allowed to walk into a country and annex part of its territory without any meaningful consequences.

Gunboat diplomacy was also evident in Libya yesterday with the government trying unsuccessfully to prevent a North-Korean flagged tanker loading and leaving a rebel held port. Libya is the elephant in the room for oil bulls but judging by the tanker debacle which resulted in the sacking of the Libyan Prime Minister they have little to fear in the near future.

To read the rest of the report, please click here 

Posted by David Hufton