Friday, March 11, 2022

U.S. war sanctions won’t end war; simply accelerate U.S. inflation


U.S., NATO encroachment eastward toward Russia goaded Russia into criminal war against Ukraine. Not wanting to fight Russia on Ukraine’s behalf, least it unleash WWIII, the U.S. employed its ‘go to’ response of economic sanctions to influence a rival’s behavior.
When even those severe sanctions effecting all segments of Russia’s economy failed to halt the carnage, President Biden took the dramatic step of halting oil imports from Russia.
Big mistake. The 4 million barrels we import daily from Russia, represents two thirds of the 6 million barrels Russia exports daily. A million and a half go to China, with the remaining half million to African and other Asian nations.
Guess who will pick up the slack in Russian exports? Russia’s new best friend in countering U.S. unipolar hegemony over the world, China. Guess where that will send U.S. pump prices? Can you say $5, $6, $7 a gallon?
Instead of funneling endless weapons of war to a nation with no chance of defeating Russia, and imposing sanctions that will make February’s inflation look wonderful by comparison, the U.S. should be embracing and encouraging peace talks between Russia and Ukraine.
They already had 3 negotiating sessions, with a fourth scheduled for tomorrow in NATO member Turkey. The U.S. has ruled out encouraging these talks and itself getting involved in a diplomatic solution.
That is also a big mistake. U.S. refusal to negotiate Russian security concerns was a big factor in Russia’s march to criminal war. Refusal to negotiate now out of fear of recognizing such concerns, will simply keep the war going on and killing without end.
And the sanctions will simply keep driving American pump prices and other commodities upward without end.

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