Britain’s Spectator Writes About Why Western Economic Warfare Against Russia Failed
May 12, 2023, 2022 (EIRNS)—Western countries have failed to achieve their goals with the economic war they unleashed on Russia, following the onset of its special military operation in Ukraine, according to its lead in the British weekly The Spectator published on May 13.
According to the magazine, the West quickly became aware that other countries were not ready to stop doing business with Russia, which rapidly redirected its oil and gas supplies to China and India. The bans introduced by the West have been surmounted with parallel imports. That said, the European economy is smarting from the consequences of its sudden rejection of Russian energy. The Spectator points out that the Russian economy was also hurt, but not as seriously as Ukraine’s allies had hoped.
“The West embarked on its sanctions war with an exaggerated sense of its own influence around the world. As we have discovered, non-Western countries lack the will to impose sanctions on either Russia or on Russian oligarchs. The results of the miscalculation are there for all to see. ... The Russian economy has not been destroyed; it has merely been reconfigured, reorientated [sic] to look eastwards and southwards rather than westwards,”
the editors write.
They admit that in itself, the plan to declare the sanctions war against Russia “was not necessarily wrong.... But if the West is thinking that in future it can fight wars purely by economic means, without bombs or bullets, it is badly mistaken,” they conclude.