The stumblebum of the Free World, Joe Biden stumbled to the podium and declared the sanctions he would levy on Russia after it started an all-out invasion of Ukraine on Wednesday night (Putin Officially Launches a Full Invasion of Ukraine, Lodges Disturbing New Threats Against the West).
Biden’s sanctions were meant to mislead the American people while doing little to punish Russia. One of the sanctioned banks has been subject to US sanctions since 2014. Sanctions on Sberbank and VTB will be felt, but many other banks will remain unaffected. Russia’s capacity to export and sustain a large trade surplus has not been harmed. There will be no sectoral penalties on metals and minerals, wood, plastics, or machine components (all of which account for 30% of Russia’s trade surplus). Oil and gas exports have skyrocketed.
The application of “serious sanctions” did not occur, and the architect of the problem, Vladimir Putin, was not personally sanctioned. All sanctions do not apply to Russia’s “energy industry.” Coal briquettes and coal exports are significant ($18 billion per year). Biden had the chance and motivation to slap sanctions on Russia, putting Vladimir Putin’s grip on power in jeopardy. Instead, he selected a symbolic endeavor that would do little to penalize Russia. He’s teaching the adversaries that sanctions are useless and that they’re better off doing anything they want.
Without provocation, justification, or necessity, the Russian military has launched a violent assault on the people of Ukraine. It has been in the works for months, according to Vladimir Putin. Now he is authorizing additional strong sanctions and new limitations on what can be exported to Russia. He just spoke with the G7 leaders this morning, and they are in total agreement. They will limit Russia’s ability to do business in Dollars, Euros, Pounds, and Yen.
Therefore, they will limit Russia’s capacity to finance and build its military. In addition to economic consequences, they are trying to safeguard the NATO allies, particularly those in the east. Their military is not and will not be involved in the crisis in Ukraine with Russia. NATO is more unified and determined than ever before. NATO got together and launched reaction measures within hours of Russia’s strike. It will allow NATO’s high-readiness troops to deploy and mobilize when and where they are required to safeguard the NATO Allies along Europe’s eastern borders.