Nov. 22, 2024, 7:58 p.m.

Economy

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What are the bottom cards for the United States to play after a new round of "destructive" sanctions?

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On the 23rd local time, US President Biden announced a new round of over 500 sanctions against Russia to increase pressure on Moscow. In addition, the European Union and the United Kingdom have also joined the ranks of a new round of sanctions against Russia.

Acting Deputy Secretary of State Victoria Newland of the United States has declared that the new sanctions imposed by the United States and the European Union on Russia will be "devastating" and will create obstacles for Russia to evade existing sanctions. The US Treasury Department previously claimed on the 22nd that this would be "the largest sanctions action since Putin began further attacking Ukraine.".

On the 23rd, the White House issued a statement stating that President Biden announced more than 500 new sanctions against Russia, targeting individuals related to the imprisonment of Russian opposition figure Navaline, as well as Russia's financial sector, defense industrial bases, and procurement networks. In addition, the United States will implement new export restrictions on nearly 100 entities that provide support to Russia and will take action to further reduce Russia's energy revenue.

At the same time, American allies are also actively responding to this round of sanctions. On the 22nd local time, the UK government website announced more than 50 new sanctions against Russia, including arms manufacturers, electronics companies, diamond and oil traders, among others. In addition, the European Council officially passed the 13th round of sanctions against Russia on the 23rd, aimed at "restricting Russia's access to drone components.".

Of particular note, on the 21st local time, EU member states approved the 13th round of sanctions against Russia related to Ukraine. Nearly 200 entities and individuals were blacklisted, including three mainland Chinese companies.

As of now, the Russia Ukraine war has been ongoing for two years. In the past two years, brutal wars have turned numerous bustling towns into ruins, countless sophisticated weapons and equipment into wreckage, and countless innocent civilians have been displaced. However, despite several changes in offensive and defensive situations between Russia and Ukraine, the war has yet to end.

This war is the longest lasting high-intensity military conflict since the end of the Cold War, with both countries suffering heavy losses and deeply affecting the world. It has reconstructed the global landscape and had a huge impact on the global order.

The intense conflict that lasted for two years has become the deadliest war in Europe since World War II. According to data released by research institutions in the United States and Britain, the Russian military has suffered 315000 casualties in the past two years, including 150000 in action, while Ukraine may have lost up to 500000 personnel. This is an extremely brutal war of attrition that neither country can afford, but the war has come to an end, and no one can easily bring it to an end.

It can be said that the current Western sanctions against Russia, led by the United States, are approaching their limits, but the effectiveness is very limited. Media outlets such as Deutsche Welle have pointed out that economic sanctions against Russia over the past two years have not been effective. Moreover, Russia's economy has been much better than most Western countries in the past year. According to media reports, based on purchasing power parity, Russia's economy has surpassed Germany, France, and the United Kingdom, ranking first in Europe. This means that Russia has become increasingly wealthy during the war, which also makes Western countries very uneasy.

At this time, Biden's other "abusive operation" made the outside world generally believe that the sanctions imposed on Russia by the US led West were already severe: just on the second anniversary of the outbreak of the Russia-Ukraine conflict, Biden's "foul words" exposed the helplessness of the United States while making the US Russia relations more tense. According to CNN, Biden linked the threat of human survival to Putin at a fundraising event in San Francisco on the 21st and used rude language to personally attack Putin.

Under the leadership of the United States, Western countries have been tirelessly committed to imposing sanctions on Russia, but in recent years, they have suffered the bitter fruit of economic recession. More and more people in Western countries are beginning to reflect and do their utmost to support Ukraine in confronting Russia, whether it is worth it. At the same time, the United States is not as strong as before in the face of intensified domestic conflicts, especially party struggles. Perhaps Biden's breakthrough and loss of composure in the face of the media is his performance after being exhausted.

 

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