22 February 2017

Bloomberg: A Le Pen Win Would Be Dangerous for Putin and Russia’s Economy

Far-right French presidential contender Marine Le Pen’s party has received financing from a Russian bank and gets positive coverage in Russia’s state-run media. Does that mean the Kremlin actually wants to see her elected? Not necessarily: Le Pen’s promise to take France out of the euro zone — which could break up the European single currency — might well devastate Russia’s economy and financial stability. [...]

The 28-member European Union remains by far Russia’s largest commercial partner despite a contraction in trade in recent years after the longest Russian recession in two decades and sanctions imposed because of the Ukraine conflict. Russia’s exports to the euro zone ($91 billion) are almost four times what it sells to China and nearly 11 times the amount of Russian imports in the U.S. [...]

Russia appears most concerned to shore up support for former Prime Minister Francois Fillon, a pro-Kremlin figure who's been hit by a family finance scandal. His presidential rival Emmanuel Macron this week accused Russia of meddling in the French election by putting out fake news through its media outlets.

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