Rubles rolling into London force Cameron to cool it on sanctions
And how do we know? Because, once again, an official visiting the PM has failed to keep his papers to himself
NOW it gets personal. David Cameron is against general sanctions against Putin’s Russia over the annexation of the Crimea but he is prepared to impose “smart” sanctions on individual Russians.
As Nick Robinson, the BBC'S political editor, told Radio 4's Today programme this morning, this could upset the estate agents in Hampstead (one of the areas of London, along with Kensington and Chelsea, favoured by Russia's big spenders), and the bursars of some of England’s top public schools (ditto).
But it won't amount to the debilitating economic sanctions threatened by US President Barack Obama on Monday.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
He was on the phone to both Angela Merkel and Cameron to drum up support after his Secretary of State, John Kerry, went on the talk shows on Sunday to wave the big sanctions stick ahead of his visit to Kiev today.
But Obama will have discovered that London, Berlin and Paris are not so gung-ho for a return to the Cold War.
The City of London would lose billions in trade, Germany its lucrative market for BMWs and Mercedes, and France its sales of champagne and luxury goods, if the world leaders pulled the plug on Russia over Ukraine. The West would also lose the gas supplies which it sucks in like a drunk with a whisky barrel.
There is a gulf in rhetoric between John Kerry and UK Foreign Secretary William Hague, who said Putin would have to pay a diplomatic price in sanctions but refused to itemise the bill.
Now we know what Cameron and Hague have in mind as a compromise - targeted 'smart' sanctions on individuals, similar to those imposed on the leaders of hated regimes in Zimbabwe, Syria and Libya.
And how do we know? Because yet again – when will they ever learn? – a Foreign Office official (believed to be Hugh Powell, son of Charles Powell, Lady Thatcher’s former aide, and now the deputy national security adviser) allowed himself to be snapped by photographers posted outside 10 Downing Street carrying a crucial document.
Enlarged, it read in part: "The UK should not support for now trade sanctions or close London's financial centre to Russians."
It also said ministers should “discourage any discussion [eg, at Nato] of contingency military preparations”. That’s a relief.
The disclosure of the document forced Cameron to deny, via a spokesman, that Britain was putting its financial interests above those of the Ukraine. But it’s pretty clear that is exactly what he is doing, and many would say: "Quite right too".
The document setting out the Foreign Office strategy advises ministers to tell Russians in private about limited sanctions they may face, but to be “generic” in public.
One of the reasons for this strategy was revealed in a briefing given by Downing Street after a phone call between David Cameron, Chancellor Merkel and President Hollande. The Prime Minister’s spokesman said the international community should speak with one voice.
"You only use those words if you a spin doctor because you know the international community is NOT speaking with one voice," said Nick Robinson.
"We want to keep all those rubles coming into London, the French want to sell warships to the Russian navy, and the Germans want to keep on buying 30-40 per cent of their oil and gas from Russia while companies invest in Russian companies. At the EU there has been a real resistance to turn tough words into tough actions."
Liam Halligan, an old Russian hand, and economics commentator for the Daily Telegraph, said on the Today programme it would be “mad” to impose general sanctions against Russia or talk about a return to the Cold War. Cameron and Hague appear to agree with him.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Senegal's Bassirou Diomaye Faye: from prison to Africa's youngest elected leader
Why everyone's talking about The 44-year-old has resonated with young people by promising to shake up the establishment and enact economic reforms
By Richard Windsor, The Week UK Published
-
How social media is limiting political content
The Explainer Critics say Meta's 'extraordinary move' to have less politics in users' feeds could be 'actively muzzling civic action'
By Chas Newkey-Burden, The Week UK Published
-
'Unthinkable tragedy'
Today's Newspapers A roundup of the headlines from the US front pages
By The Week Staff Published
-
Barack Obama 'behind Starmer transformation'
Under The Radar The former US president urged Labour leader to 'talk more openly'
By Chas Newkey-Burden, The Week UK Published
-
Olaf Scholz vs. Emmanuel Macron: an ancient animosity
Under the radar The German chancellor and French president's relationship has been productive, but Ukraine war has put it under strain
By The Week UK Published
-
'A wonky bureaucratic tweak has dramatically changed how Americans drive'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
Will Aukus pact survive a second Trump presidency?
Today's Big Question US, UK and Australia seek to expand 'game-changer' defence partnership ahead of Republican's possible return to White House
By Sorcha Bradley, The Week UK Published
-
'Is Hollywood undergoing a gun reform reckoning?'
Instant Opinion Opinion, comment and editorials of the day
By Harold Maass, The Week US Published
-
What can we expect from Vladimir Putin's fifth term?
Today's Big Question 'Conflict abroad and crackdown at home' to continue after Russian president secures new mandate
By Elliott Goat, The Week UK Published
-
A 'nuclear timebomb': tensions rise over Ukraine power plant
Under the Radar Greenpeace accuses Vladimir Putin of threatening an 'unprecedented escalation' of war
By Chas Newkey-Burden, The Week UK Last updated
-
Pentagon's surprise $300M for Ukraine
speed read The Pentagon is giving $300 million worth of military aid to Ukraine, mostly for ammunition
By Peter Weber, The Week US Published