Sanctions against Russia backfire

Newsletter 2014/07/18 – The Alliance of the Threatened

BERLIN/WASHINGTON/MOSCOW (Own report) – The EU and USA have expanded
their sanctions against Russia and – in addition to individuals – have
now also placed important Russian companies on their lists. Washington
has restricted dealings, for example, with Rosneft and the
Gazprombank. Brussels has announced the possibility of preventing EU
companies from doing business with Russian companies and is planning
to list them by the end of July. German business circles are
protesting. They have already suffered billions in losses. Experts are
warning that, with its sanctions against Russia, the West may
experience, in the economic arena, an overreach similar to that
experienced by the US in the military arena with its war on Iraq. With
the power of the West obviously waning, it has already become
noticeable that even close allies are defecting. Observers explain
this with the Crimea conflict: NATO countries had been unable to
retain the Crimea within the reign of its allied Ukrainian government;
therefore it seems that an alliance with NATO countries would no
longer be a reliable assurance against ones enemies. Defections can be
noticed in Asia and Latin America, not least of all because of the
recent founding of the BRICS development bank, rivaling the
US-dominated World Bank. Russia and China are among the founders of
this bank.


By piotrbein