POBNEWS24, Desk Report, Feb 26,2022 : America and its allies do not want to risk a border conflict or harm their economies by imposing crippling sanctions.
“PUTIN’S AGGRESSION against Ukraine will end up costing Russia dearly, economically and strategically. We will make sure of that.” With these fighting words, President Joe Biden announced on February 24th that America would impose sweeping economic sanctions on Russia for its invasion of Ukraine .The measures freeze the American assets of Russia’s biggest banks, hamper its ability to raise debt, restrict its import of high-tech goods and seize the wealth of its elites and their children. Britain and the EU announced similar steps.
But those who imagined that sanctions would cripple Russia’s economy overnight are likely to be disappointed, if only because much of the world still wants its oil and gas. And the West has signalled that, for all its horror at Mr Putin’s wanton aggression, it will not act militarily against a nuclear power. Instead, America and Europe seem to hope that opprobrium, economic pressure, the grind of war and, perhaps, discontent at home, will eventually convince Mr Putin to pull back—or at least not advance further.
