To The Editor:
Russia’s parliament is considering action to seize the property and assets of United States and European companies if sanctions are imposed against Russia because of the Ukrainian crisis.
If this crisis escalates, Russia plans to seize Exxon Mobil’s gas fields, Volkswagen, General Motors and Renault factories, BP and Statoil oil fields just to name a few big corporations that would be affected.
Europe is dependent on Russian natural gas. About 38 percent of German heating fuel comes from Russia. The other European nations are dependent to about the same extent. The gas pipelines run through the Crimea and the Ukraine.
Even though foreign investment has grown to a point it is vital to the Russian economy, Russian President Vladimir Putin is not afraid of taking this action in the event of actions against his nation.
President Obama is proceeding with diplomatic talks. Some in America want the president to take strong action, but I do not feel that is advisable. We do not need to get into another war.
European Union leaders and President Obama need to walk softly and carry a big stick.