December 8, 2022

The Queens County Citizen

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The first sanctions against Russia, a sign of unity with limited effects

The first sanctions against Russia, a sign of unity with limited effects

In response to political and military action by Russian President Vladimir Putin, which recognized the sovereignty of Ukrainian separatists over all Luhansk and Donetsk territories in eastern Ukraine, NATO, one of the many member states, announced diplomatic and economic sanctions.

These sanctions are aimed at showing the determination, determination and unity of the Allies in the face of Russia and perhaps even the main goal.Frederick Merand, professor of political science at the University of Montreal.

The goal is to show that Russia can become a state if it behaves aggressively.

A quote from Frederick Merand, Scientific Director of the Center for International Studies and Research

According to Ann Broult, Professor of International Studies at the Royal Military College of Saint-Jean, It’s not just about teaching lessons in international law [Vladimir] PutinBut to find the true balance of power between forces.

U.S. President Joe Biden has made it clear that there will be no U.S. troops on Ukrainian territory. That is the only tool [Biden] There is, it is financial sanctionsMr Brult explained that the latter at this stage would not be particularly impatient.

First row sanctions

In the course of these actions, the German Chancellor, Olaf Scholz, suspended the certification process for the 1,230-kilometer gas infrastructure Nordstream 2 pipeline connecting Germany and Russia via the Baltic Sea.

This measure is modest, especially since the Nord Stream 2 pipeline is not yet in service, unlike the adjacent Nord Stream 1, which emphasizes Mr. Merand. However, the professor said that if this measure is implemented for a long time, it will lead to medium and long term economic consequences.

For his part, the President of the United States, Joe Biden targeted Russian celebrities, Russian financial institutions and debt financing by restricting Western financing. On Wednesday, the United States added sanctions Against the company responsible for the maintenance of the Nord Stream 2 gas pipelineIts parent company is the Russian giant Gazprom.

In turn, the Prime Minister of Canada, Justin Trudeau banned all financial transactions with Russian banks In addition to announcing sanctions on the Russian parliamentarians who voted for the decision, with the support of the state Illegal To determine the sovereignty of the territories of Luhansk and Donetsk.

The first victims of the sanctions so far have been the nominees, especially deputies around Putin, the elites, and the oligarchs who have assets in London and Switzerland.Mr. Mérand said.

NATO decision Vladimir Putin bought time

Vladimir Putin is aware of the consequences that await him in response to his military demonstration on the Ukrainian border, Mr Merand confirmed. The Russian president, in his speech on Monday, exposed himself to sanctions, but consciously and in a calculated way.

Vladimir Putin was well aware that these sanctions were going to be implemented and he acted knowingly.

A quote from Frederick Merand, professor at the University of Montreal

This is a calculation made by President Putin, analysts believe, and he is prepared for the costs associated with sanctions. By comparison, sanctions imposed on Russia after the annexation of Crimea in 2014 had a 1.5% impact on the country’s GDP, Mr Brult estimates, confirming that the sanctions announced so far are tastier for later ones. A few weeks.

Mr. Merand manages it Restrictions, if they are to be credible, they must hurt you too. Economically damaging sanctions on both sides could carry more political weight, he concluded.

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