Soaring oil prices, energy and food crises on the horizon…is it possible the REAL target of this economic war is us?
The first tweet I saw when I checked my timeline this morning was from foreign policy analyst Clint Ehlirch, pointing out that the Russian ruble has already started recovering from the dip created by Western sanctions, and is almost at pre-war levels:
The Russian Ruble is nearing its pre-invasion value.
Sanctions were designed to collapse its value. They failed. pic.twitter.com/OLmVIsS34E
— Clint Ehrlich (@ClintEhrlich) March 29, 2022
Ehrlich states, “sanctions were designed to collapse the value of the Ruble, they have failed”.
…to which I can only respond, well “were they?”
…and perhaps more importantly, “have they?”
Because it doesn’t really look like it, does it?
If anything, the sanctions seem to be at best rather impotent, and at worst amazingly counterproductive.
It’s not like the US/EU/NATO don’t know how to cripple economies. They have had years of practice starving the people of Cuba, Iraq, Venezuela and too many others to list.
Now, you could argue that Russia is a larger, more developed economy than those countries, and that’s true, but the US and its allies have previously managed to hurt the Russian economy quite drastically.
As recently as 2014, following the “annexation” of Crimea, Western sanctions were tame compared to the recent unprecedented measures, but crucially the US massively increased its own oil production, then later that year (following a visit by US Secretary of State John Kerry) Saudi Arabia did the same.