TRUTH PUKE’S TAKE: The recent Spectator article highlights the limitations and unintended consequences of the West’s economic sanctions against Russia, which did not achieve the desired results and led to a shift in Russia’s economic priorities.
The West began its economic war with Russia with an overinflated sense of its own influence in the world. The plan was to isolate Russia economically, which should have caused shockwaves and unprecedented levels of trepidation. However, few in the West seem to understand how poorly this aspect of the war has played out.
Europe paid a high price for its boycott of Russian oil and gas, and it became clear that while the West was interested in an economic war, the rest of the world was not. As oil and gas exports to Europe dwindled, Russia quickly increased its exports to China and India, which preferred to buy oil at a discount rather than confront the Ukraine invasion. Furthermore, part of the Russian oil exported to India was apparently sold back to Europe at a premium.
The Russian economy was not destroyed; it was simply reconfigured and redirected to look towards the east and south, rather than the west. Ultimately, the sanctions have backfired, only serving to strengthen Russia’s resolve and self-reliance while damaging the West’s position.
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#Russia #Ukraine #West #sanctions #RussianOilandGas #RussianEconomy
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