Tuesday, March 25, 2014

Geopolitical Unrest: The Economic War Rages

 In continued attempts to fight a war against Russia, because of their actions in Crimea, without emptying any cartridges or firing any missiles, the [formerly] G8 summit has suspended Russia's membership - an attempt to further the impact of economic sanctions and an effort to fight a cold war of attrition against the nation.

Foreign Minister Sergei Lavrov said Tuesday that Russia was rather indifferent to the announcement, made in a joint statement by the leaders of the other member nations.

"If our Western partners believe that this format has become obsolete, then so be it," Lavrov said at a news conference at the Nuclear Security Summit in The Hague. "We are not clinging to this format and we do not see big troubles if the group does not meet."

This statement alludes to the fact that Western sanctions don't seem to be having an impact on the rhetoric between Russia and the rest of the world - minus China and some smaller governmental states. 

The United States, France, Britain, Germany, Italy and Japan announced the suspension of the Russian Federation in a declaration released Monday, confirming that the sanctions are in place because of Russia's violation of Ukrainian sovereign territory. The codification of the unit which opposes Russia's actions also has not seemed to have an impact on the former Soviets, as they simply issued a statement saying they wish to keep communications with the G7 open. 

In terms of the negative backlash of the economic sanctions, there is the undeniable shortage of natural gas being sold to Europe - a supply that will be incredibly difficult to find an alternative to as Norway and Australia have both come up short in recent projections. 

No comments: