Sounds like it if John Kerry’s comments are to be believed:
- Everyone has taken note of what has happened to ruble (bet the buggers were all short RUB)
- Purpose of sanctions were to make it clear to Russia that there are costs attached to annexation of Crimea
- What is happening to ruble is not just related to sanctions but to oil prices too
- Sanctions could have been lifted months ago and could be lifted in days depending on what decisions the Kremlin takes
- Sanctions were intended to invite Putin to make different decisions on Ukraine
- Russia has made constructive moves in recent days
- Hopes in days ahead we can get a clear defined path from all parties on Ukraine
- Confident that US and Europe will respond on sanctions if Russia continues to move constructively
- We do not want the people of Russia to be hurt, that is not our goal
Kerry offering a chink of light to Putin & Co. Will he take it?
The comments are easing safe haven flows around the markets at the moment with the yen seeing some selling in the crosses.
