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Russia sanctions will trigger global food and energy crises – China

Samizdat | May 12, 2022

The international sanctions campaign to punish Russia over the Ukraine conflict will backfire, causing suffering by people around the world while failing to promote peace in the former Soviet republic, a top Chinese diplomat has told the UN Security Council.

“Sanctions will not bring peace but will only accelerate the spillover of the crisis, triggering sweeping food, energy and financial crises across the globe,” Chinese deputy UN ambassador Dai Bing said on Thursday in New York. He added that continuing to impose sanctions on Moscow will force children around the world to “suffer the bitter consequences.”

Dai made his comments as the Security Council met to discuss the humanitarian crisis brought on by the Russia-Ukraine conflict. Although he also spoke of efforts to help protect children affected by the fighting, such as encouraging Russia and Ukraine to work together to enable more civilian evacuations, he said the only real solution is a negotiated peace deal.

“Achieving peace is the best protection for children,” Dai said. “Dialogue and negotiation are the most realistic and feasible way to reach a ceasefire and to stop the war. The international community should encourage Russia and Ukraine to return to the negotiation track and keep accumulating political conditions for the restoration of peace.”

By instead trying to force a resolution through sanctions, Western nations and their allies are actually causing more harm to children, especially those living in such war-torn places as Afghanistan, Yemen, the Horn of Africa and the Sahel region, Dai said. “China again calls on parties to stay rational and exercise restraint, transcend prejudice and strife, and make unremitting efforts for the early resolution of the crisis in Ukraine.”

The US and its NATO allies have spearheaded the sanctions campaign, trying to isolate Russia and devastate its economy and currency. However, the ruble is actually stronger today than before the Ukraine crisis began, rebounding from an historic low reached in March. In fact, it has been the world’s top-performing currency so far in 2022, even though Russia’s economy is reportedly on track to contract by an estimated 12% this year.

Meanwhile, food and energy shortages are looming around the world, and inflation is at around a 40-year high in the US and parts of Western Europe. President Vladimir Putin claimed on Thursday that sanctions are triggering a global economic crisis, and the blame “lies entirely with the elites of Western countries who are ready to sacrifice the rest of the world to maintain their global dominance.”

May 12, 2022 - Posted by | Economics, Malthusian Ideology, Phony Scarcity | , , ,

2 Comments »

  1. I agree, unreservedly, with China’s “take.”

    Should the United Nations be abolished, similar to the concept of abolishing NATO? Both, it seems to me, are unnecessary and worthless appendages providing no net benefit to humanity and the advance of civilization (sic)..

    Where is (Jesus Christ: The Prince of Peace) Christianity in al of this danse macabre?

    Like

    Comment by roberthstiver | May 13, 2022 | Reply

  2. That is the point.

    Liked by 1 person

    Comment by Bob | May 13, 2022 | Reply


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