The sanctions imposed against Russia failed to shake its economy, and, at the same time, caused damage to the countries of the West. The columnist writes about this on October 21 new york post Philip Pilkington.
“Sanctions harm us and benefit Russia and its allies. Something needs to change. We need a new approach. Since Russia clearly benefits from high energy prices, the main thing is to try to reduce these prices,” he said.
Pilkington added that US President Joe Biden’s promises to “turn the ruble into ruins” have not been translated into reality.
“Eight months later, it becomes clear that it did not work. The ruble is not “in ruins” – in fact, it is stronger than it was before the conflict in February, having risen by about 23% against the dollar, ”the journalist emphasized.
He also pointed to the failure of the strategy of abandoning Russian energy carriers.
“Back in February, many people assumed that if we stopped buying Russian energy resources, then there would be no one to buy them and the country would go bankrupt. But that did not happen. Instead, other countries, most notably China and India, have stepped in and are buying Russian oil and gas. You cannot have an export ban without the cooperation of most countries,” Pilkington said.
The observer also pointed out that while the inhabitants of Europe and the United States are forced to suffer amid the energy crisis, Russia’s allies are buying Russian energy at a discount.
Earlier, on October 22, the president of the German Chamber of Commerce and Industry (DIHK), Peter Adrian, spoke about a possible halt in production at some of the country’s enterprises due to the energy crisis. The chamber receives daily requests for help from companies not receiving contracts for 2023, he said.
Meanwhile, on October 18, the Tagesschau news portal reported that high energy prices and a shortage of firewood have led to more timber being stolen from Germany’s forests.
Electricity prices are rising in line with gas prices. Thus, according to the analytical company Rystad Energy, the average monthly cost of electricity in Europe in August 2022 became the highest in the history of observations. The record, in particular, was broken in Italy, France, Great Britain and Germany. The United States also recorded an unprecedented rise in prices for gasoline and groceries.
Western countries decided to reduce their dependence on Russian energy resources against the backdrop of a special operation of the Russian Federation to protect Donbass, the beginning of which Russian President Vladimir Putin announced on February 24. However, all this has already turned into economic problems in Europe, causing a sharp rise in fuel and food prices. Sanctions also led to record inflation in the EU countries.
For more up-to-date videos and details about the situation in Donbass, watch the Izvestia TV channel.
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